Economic Analysis of Organizing Ice Hockey World Championship 2015 in Ostrava and Prague

Halásová, Michaela

In many cases the organization of major sport events brings various benefits to hosting economies, especially those resulting from encouraged tourism. However, these events carry extensive costs coming mostly from public resources which could be used for other purposes, e.g. healthcare. The main goal of this thesis is to analyze the socioeconomic impact of the Ice Hockey World Championship 2015 on Prague and the Moravian-Silesian Region using a Cost-Benefit Analysis in which costs and benefits are summed up and benefit-cost ratio calculated. In our analysis we conclude that the event was beneficial not only for the Czech Ice Hockey Association; the hosting organization reporting profit of 450 million CZK before taxes but also for the regions with a benefit-cost ratio of 5.53, meaning that the benefit created equals 5.53 times the amount the regions invested into the event. Moreover, in this analysis we confirm an overall positive effect of the championship on tourism. Keywords cost-benefit analysis, Ice Hockey World Championship 2015, Prague, Ostrava, Moravian-Silesian Region, economic impact, major sport events, tourism

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