POSTED: January 12th 2012

Rome 2020 team takes economic study to PM Monti declaring 88 percent of Italians behind the bid

IOC vice-president Mario Pescante and head of the Rome 2020 campaign / Rome 2020
IOC vice-president Mario Pescante and head of the Rome 2020 campaign / Rome 2020

LAURA WALDEN / Sports Features Communications

TAMPA: The Rome 2020 top level team paid a visit to Palazzo Chigi to see Prime Minister Mario Monti and present the Rome 2020 Economic Impact Study drawn up by Fortis Commission together with a public opinion poll. 

This 2020 bid makes the Eternal City’s second campaign to host the summer Games after losing to Athens for 2004.

The city and especially the Italian Olympic Committee (CONI) sports compound maintains a strong legacy of the 1960 Games hosted there.

The economic impact study analyzes the benefits for the Italian economy and what the bid to host the 2020 Olympic and Paralympic Games could mean for Rome. 

The team was led by the head of the bid and IOC vice-president, Mario Pescante, Marco Fortis, Minister of Sports Piero Gnudi, Rome Mayor Gianni Alemanno, IOC member Franco Carraro, honorary bid president Gianni Letta, secretary general of the European Olympic Committees (EOC) Raffaele Pagnozzi, and the head of CONI Gianni Petrucci.

Pescante said, “It is important to participate, but we are shooting to win.

“This is a team sport and Rome has the total “Italian Team” united behind it. This is already an extraordinary first objective.

“The ’60 Games were an Olympiad of concrete growth and dramatic rebirth for Italy. They served to give us a wakeup call, trust and credibility. 

"Today we propose a plan of investments and growth," he added.

The meeting was held in hopes of a formal declaration of interest from PM Monti and after that they will need the vote of approval from both houses of the parliament.

Some key points of the study were:

Public expenditure needed for the candidacy is estimated at €8.2 billion, of which €3.5 billion are directly recoverable via €2.3 billion by way of income of the organising committee and €1.2 billion for the sale of new living units of the Olympic Village.

Direct private expenditures totaling around €6.8 billion need to be added to the public expenditure, of which €1.6 billion for infrastructures (Rome Airport) and €5.2 billion for tourist costs in Rome and the rest of the country, together with investments in hotel infrastructures.

Net public expenditure therefore comes to €4.7 billion to be spent on:

1) Interventions on infrastructures already contemplated in the Strategic Development Plan prepared by Roma Capitale and/or initiatives currently being carried out (e.g. Tor Vergata facilities) €2.9 billion

2) Sports and infrastructure works for the Games €1.5 billion

3) The negative balance between organisation costs and income of the Organising Committee 0.3 billion

Net public investment is almost totally compensated by the consequent increase in additional income from taxes generated by the Games (€ 4.6 billion, of which €1.4 billion in indirect taxation and €3.2 billion in direct taxation).

It is estimated that the Games will draw 1.4 million tourists to Rome and Italy, added to the normal flow of tourists who regularly visit Rome and the country.

The impact of the Games on employment envisages the creation of a yearly average of about 12,000 jobs in the period before and after the Games, and 29,000 in 2020 alone.

The overall volume of expenditure and investments activated by the Games brings about a 1.4% increase in growth of domestic GDP in the period 2012–2025, 0.84% for the period 2016-2020, and 0.32% in 2020 alone.

This growth will be particularly strong in Lazio, where there will be a growth in GDP (in the period 2012 – 2025) of 6.5%, as compared to growth in other regions of the country, ranging between 0.5% and 1.3%.

Pubic opinion

The Istituto per gli Studi sulla Pubblica Opinione (ISPO) carried out the research and is an institute of social research, economic and opinion, led by Professor Renato Mannheimer, based in Milan and  founded in the early '80s by a group of teachers from different Italian universities. 

According to documents, three quantitative surveys were conducted by means of telephone interviews (CATI system) on a sample of 802 Italians, 600 citizens of Lazio and 600 of Rome.

Results found nine out of ten (86%) citizens of Lazio favorable, eight out of ten Romans (77%) and seven out of ten (74%) Italians.

Overall the study found 88% of Italians, 97% of Lazio citizens and 94% of Romans behind the bid.

People that were favorable of the Games, the potential of economic development and the lure of more jobs were mostly students and young people who say they lean towards a right/centre-right wing government.

The IOC will conduct their own independent survey when they run the evaluations on the cities selected as candidate cities for the 2020 summer Games.

Keywords · Rome 2020 · Mario Monti · Mario Pescante · Marco Fortis · Piero Gnudi · Gianni Alemanno · Franco Carraro · Gianni Letta · Raffaele Pagnozzi · Gianni Petrucci

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