Winter Olympics 2026 expected to boost Italy’s economy by billions

The 2026 Winter Olympics in Milan and Cortina d’Ampezzo are not only a major sporting event but also a significant economic driver. Estimates suggest the Games could generate a total economic impact of around €5.3 billion for Italy, primarily through tourism, construction projects and global exposure. 

Hotels and tourism businesses are among the biggest beneficiaries. Despite sharply rising prices — in some cases reaching four-digit nightly rates — many accommodations are fully booked. The surge in demand illustrates how large international events can provide a short-term boost to regional economies.

A substantial portion of spending has been directed toward infrastructure, sports venues and transportation links. Overall costs are estimated at roughly €5–6 billion, with Italy aiming for long-term benefits from improved facilities, enhanced mobility and increased international visibility.

However, the Games also face criticism. Large sporting events often bring risks such as cost overruns, environmental impacts and the potential for underused facilities after the event — so-called “white elephants.” Extremely high prices may also discourage regular tourists and intensify social tensions in host regions.

The decentralized structure of the Games, with events spread across several locations in Northern Italy, is intended to distribute economic benefits across a wider area. Cities including Milan, Cortina d’Ampezzo and Verona are expected to showcase Italy’s cultural, industrial and tourism strengths to a global audience.

Overall, the Winter Olympics illustrate the dual nature of mega-events: they can act simultaneously as engines of growth, prestige projects and financial risks. Whether the long-term benefits outweigh the massive investments will only become clear years after the Games conclude.

SK