THE ECONOMIC IMPACTS OF MEGA EVENTS UPON THE HOST CITY, THE SAMPLE OF FORMULA 1

Abstract

The mega events that come out as a significant indicator of urban politics have various economic, social and regional impacts upon the urban space. The number of the cultural, artistic and sports events which are held in the cities in order to develop world wide reputation, enhancement of urban image, tourism destination, and increase of revenues of the host region has been gradually increased. In this study, the economic impacts of Istanbul Park, Formula 1 Turkey Grand Prix held in Istanbul is examined by using the findings from the doctoral thesis, the Impacts of Mega Events upon Tourism and Urban Space. The amount and distribution of the visitors' expenditure in the host city for accommodation, food, shopping and entertainment in the facilities during the event in were investigated. The economic impacts of the event are tried to be evaluated by assesment of the findings with the frequency analysis and T test.