Empirical Research on Economic Impact of Mega-Event: Based on the Case of 2008 Beijing Olympic Games

Mega-event has received growing attention as it brings great economic benefit to the host country or city. However, Macro-economic approach is the main method used in current researches. Based on 2008 Olympic Games in China, this paper researches on both short-term and long-term Micro-economic impact of Mega-event, using event study method and trend analysis. Employing the financial data of listed company that are affected by Olympics, the research found that successful bid for the 2008 Olympic Games brought more distinct stimulating effects than the games period did, and related companies received long-term effects on profit. The conclusion is that the economic impact of Olympics is limited from the viewpoints of Micro-economy, which also fits to economic assessment of Mega-event in the case of a larger economic scale and helps to make suggestions for managers and participants of Mega-event.