Vanity or Sanity: Evaluating the Economic and Urban Legacies of Olympic-Led Regeneration on Host Cities.

Abstract

In this thesis, I examine whether Olympic-led regeneration produces positive long-term urban and economic legacies on host neighbourhoods, or whether these mega events are merely vanity projects that produce minimal significant urban change. The process of revitalising areas through Olympic-led investment will be examined through a mixed-method analysis of the Los Angeles 1984, Atlanta 1996, and London 2012 Olympics. This paper uses quantitative methods, including regressions of house prices and income, to identify the urban effects of the Games. These findings are supported by qualitative methods, including expert interviews and policy analysis. The findings suggest that Olympic-led regeneration has the capability to produce significant urban outcomes in terms of house price growth and the construction of physical infrastructure. However, the potential effects of these benefits are severely limited by equity issues, particularly regarding the minimal extent to which the benefits of redevelopment are experienced by pre-existing local communities. This is particularly apparent when the Olympics are governed by models that have a limited role for public sector intervention. Based on these findings, policy recommendations are provided to structure how future Games should be planned and executed to ensure the positive impacts Olympic events can have on urban change are fully realised.