Mega-events as a source of risks for developing countries: comparative study from the BRICS countries and Ukraine

Abstract

This study is dedicated to consequences of preparing and conducting mega-event in the developing countries. Analysing the results of hosting mega-events in developing countries and focusing on the cases of Ukraine and BRICS countries, we have come to a conclusion that mega-events significantly misbalances equilibrium on the market of sports facilities. Developing countries often adopt the mobilizations way of development that allows overcoming the civilization barrier in time, improving supply of infrastructure to the sufficient level for hosting a mega-event. We have shown that mobilization way of development often increases the risks of hosting a mega-event at the national level and creates the risks for the international organisations that are responsible for hosting a mega-event. In addition, economic consequences of such a way of development are often negative for all developing countries. In order to cope with such risks, we suggest implementing a set of quantifiable criteria, which can increase the degree of objectivity during selection the host country for a mega-event.