The Pan American Games are coming to Toronto in 2 years - 559 days to be exact. While not as high profile as the Olympics, some of you may be surprised to learn that the Pan Am Games will involve three times as many athletes as the Vancouver Olympics did.
However, the big question with these sorts of events is always whether or not they create a lasting economic boon for the host city. History is littered with examples of economic disasters and lingering Olympic debts. I’d love to see a full analysis of what it costs to bid for a game, how much public money has to go up, how much private investment it spurs, and so on.
At the same time, I suspect that some of the positive externalities might be hard to measure. How do you attach a value to the brand equity you get from hosting a major international sporting event? It’s hard, but for many people around the world the 2015 Pan Am Games could be the event that embeds Toronto into their psyche.
But there is another big benefit to playing host. It creates a real deadline. When cities bid for games they make all sorts of promises about the kinds of things they’re going to build and provide. In the case of Toronto, it