Sa di, Albe o; Rizzi, Alessand o; So ano, En ico
A icle
Economic impac analysis o mega e en s o sus ainable
ou ism: Insigh s om he Gi o d'I alia and Tou de F ance
Adminis a i e Sciences
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Sugges ed Ci a ion: Sa di, Albe o; Rizzi, Alessand o; So ano, En ico (2025) : Economic impac
analysis o mega e en s o sus ainable ou ism: Insigh s om he Gi o d'I alia and Tou de F ance,
Adminis a i e Sciences, ISSN 2076-3387, MDPI, Basel, Vol. 15, Iss. 2, pp. 1-21,
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Ci a ion: Sa di, A., Rizzi, A., &
So ano, E. (2025). Economic Impac
Analysis o Mega E en s o
Sus ainable Tou ism: Insigh s om
he Gi o d’I alia and Tou de F ance.
Adminis a i e Sciences,15(2), 35.
h ps://doi.o g/10.3390/
admsci15020035
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A icle
Economic Impac Analysis o Mega E en s o Sus ainable
Tou ism: Insigh s om he Gi o d’I alia and Tou de F ance
Albe o Sa di 1,* , Alessand o Rizzi 1and En ico So ano 2
1Depa men o Managemen , Uni e si y o Tu in, 10124 Tu in, I aly; alessand [email p o ec ed]
2Depa men o Scienze Economiche e Giu idiche, Uni e si àdegli S udi di Enna “Ko e”, 94100 Enna, I aly;
[email p o ec ed]
*Co espondence: albe o.sa [email p o ec ed]
Abs ac : The g owing awa eness o economic, en i onmen al, and social issues ela ed o
ou ism highligh s he need o iden i y inno a i e p ac ices ha p omo e sus ainabili y in
ou is des ina ions. This s udy in es iga es mega spo ing e en s and hei undamen al
ole in sus ainable ou ism; hese e en s con ibu e o ou ism p omo ion by egene a ing
and e i alizing hos a eas. Howe e , he inc easing demand o anspa ency in he man-
agemen o public esou ces, aimed a ensu ing he economic sus ainabili y o he a eas
hos ing hese e en s, has heigh ened he ocus on moni o ing esou ce alloca ion. Beyond
he use o echnological inno a ions, i becomes essen ial o s udy he ole o inno a ion
in p omo ing sus ainable ou ism managemen p ac ices o gua an ee he economic sus-
ainabili y o des ina ions hos ing majo spo ing e en s. A key ool o planning ou ism
p omo ion and ensu ing economic sus ainabili y is undoub edly economic impac anal-
ysis. Al hough nume ous me hods a e a ailable, he in eg a ion o mul iple app oaches
enhances bo h he comple eness and accu acy o such e alua ions. This s udy p oposes
an inno a i e app oach ha combines di e en me hods o p o ide a obus app oach
o economic impac analysis. This esea ch alida es he p oposed app oach h ough he
analysis o wo p es igious cycling compe i ions: he Gi o d’I alia and he Tou de F ance.
The p oposed app oach enables he iden i ica ion o a eas whe e a ge ed in es men s and
s a egic imp o emen s can p omo e sus ainable and long- e m economic bene i s o hos
egions. I can suppo decision-making p ocesses o plan ou ism p omo ion and ensu e
economic sus ainabili y.
Keywo ds: economic impac ; spo ing e en ; mega e en ; ou ism des ina ion; sus ainable
ou ism; ou ism de elopmen ; ou ism inno a ion; Gi o d’I alia; Tou de F ance; cycling;
pe o mance measu emen ; pe o mance managemen
1. In oduc ion
The inc easing de elopmen o echnological inno a ions has ans o med he ou ism
sec o , pushing he concep s o sma ou ism and sma des ina ions (Ca doso e al.,2023;
G e zel e al.,2018). Sma ou ism le e ages ad anced echnologies such as senso s, mobile
applica ions, sma me e s, and IoT de ices, which oge he c ea e a digi al ecosys em ha
p o ides compe i i e ad an ages and inno a i e business models (Ca doso & A aújo,
2019). As highligh ed in he special issue “Inno a ions in Sus ainable Tou ism: Shaping he
Fu u e o Des ina ions” o Adminis a i e Sciences (Ca doso e al.,2024), sma ou ism can
be summa ized by he concep o “sma ness,” an in elligen app oach o planning, and
managing ou ism ac i i ies using hese echnologies. This “sma ness” a o s ope a ional
Adm. Sci. 2025,15, 35 h ps://doi.o g/10.3390/admsci15020035
Adm. Sci. 2025,15, 35 2 o 21
e iciency and he social, economic, and en i onmen al sus ainabili y o ou is des ina-
ions (Ca doso e al.,2023). Wi hin his amewo k, he economic dimension plays a key
ole in os e ing in es men s and de eloping inno a i e business models ha in eg a e
echnological solu ions o imp o e en i onmen al and social impac s. As highligh ed
by Os e walde and Pigneu (2010), business models should ep esen a logic designed
o ensu e he economic sus ainabili y o en e p ises, p ojec s, and e en s, ensu ing hei
long- e m su i al (Os e walde & Pigneu ,2010). This pape in es iga es mega spo ing
e en s because hey a e ecognized as a g ea challenge in e ms o economic sus ainabili y
and e icien managemen .
Mega spo ing e en s a e well-documen ed o hei capaci y o enhance he im-
age o a des ina ion and con ibu e o he p omo ion o ou ism (Bull & Lo ell,2007;
Va najo ,2020
). These e en s o en egene a e and e i alize ci ies, he eby imp o ing he
quali y o li e o local esiden s (Hall,2004) and he des ina ion as a ecognizable ou ism
b and (
de Almeida & Ca doso,2022
). Mega spo ing e en s a e iden i ied by se e al key
cha ac e is ics; hey a e unique (dis inc om o dina y li e expe iences), expe ien ial (o -
e ing unique senso y and cul u al g ow h), esou ce-in ensi e (mobilizing signi ican
inancial capi al), s imula ing (c ea ing new oppo uni ies o local de elopmen ), and
socializing (p omo ing in ense communica ion) (Roche,2006). The compe i ion among
ci ies, egions, and s a es seeking o hos hese mega spo ing e en s has become inc eas-
ingly p ominen , wi h nume ous s udies emphasizing he di e se economic ad an ages
associa ed wi h mega spo ing e en s (Bu ns e al.,1988;Desbo des,2007;G a on e al.,
2005). In addi ion o he economic bene i s, he li e a u e unde sco es posi i e impac s on
ci ic p ide, social cohesion, in e ac ion, and cul u al unde s anding (Be idge e al.,2019;
Bull & Lo ell,2007;Fe b ache,2024;Ge z,2008; H. J. Kim e al.,2006). While hos ing mega
spo ing e en s may also in ol e nega i e ex e nali ies, such as oad conges ion and o e -
c owding (Balduck e al.,2011;C omp on,1995), ci izens o en accep hese incon eniences
in suppo o poli ical decisions, ecognizing he unique, mul i ace ed economic, social,
and en i onmen al bene i s (Bull & Lo ell,2007). Howe e , hese e en s mus ensu e
long- e m economic, en i onmen al, and social sus ainabili y o u u e gene a ions (Bu le ,
1999), as s udied unde di e en pe spec i es in nume ous s udies (A aujo Vila e al.,2019;
Ca doso e al.,2023;Lima San os e al.,2020). The g owing demand o anspa ency in he
managemen o public esou ces o ensu e he economic sus ainabili y has inc eased he
pe o mance measu emen and managemen (Ga engo & Sa di,2021;Gio ando e al.,2021;
Sa di e al.,2020,2023). Fu he mo e, his aspec , associa ed wi h he inc easing needs o
planning o ou ism p omo ion, has led o he inc eased u iliza ion o economic impac
analysis (Nicolau e al.,2019;Nielsen & Fedde sen,2023;Va najo ,2020). The body o
esea ch explo ing his analysis is as ; a ious au ho s de eloped di e se app oaches o
ga he ing and analyzing da a conce ning he economic impac o mega spo ing e en s
(
Ba ajas e al.,2012
;Ba andela & Fe nández,2021;Bull & Lo ell,2007;C omp on,1995;
de Boe e al.,2019;Desbo des,2007;Makkonen & Mi ze,2023;Nielsen & Fedde sen,
2023). While each app oach p esen s bo h ad an ages and disad an ages, he in eg a ion
o mo e app oaches can o e a comp ehensi e and accu a e assessmen o suppo holis ic
decision-making p ocesses (Bi i ci e al.,2012;Paolone e al.,2020;Ta icchi e al.,2015); his
in eg a ion also a o s a mo e p uden es ima ion o an e en ’s economic impac .
In ligh o his conside a ion, he objec i e o his esea ch is o de elop an in eg a ed
app oach o assessing he economic impac o mega spo ing e en s. This app oach is
es ed on wo o he mos p es igious e en s in he p o essional cycling ci cui : he Gi o
d’I alia and he Tou de F ance. This ield was selec ed due o he unique cha ac e is ics o
cycling as a spo , which in ol es minimal in as uc u e expendi u es, p ima ily se ice-
ela ed expenses (e.g., p omo ion, secu i y), and gene ally does no equi e icke sales o
Adm. Sci. 2025,15, 35 3 o 21
spec a o s, excep in selec a eas o he compe i ion (Bull & Lo ell,2007;de Boe e al.,
2019;Makkonen & Mi ze,2023). The indings ou line he main s eps in de eloping an
economic impac analysis o mega spo ing e en s, demons a ing how i can be applied in
p ac ice. The analysis ocuses on he economic impac o hese wo key e en s on a speci ic
geog aphic a ea: he Piedmon egion o I aly.
The subsequen sec ion del es in o he heo e ical backg ound o he esea ch. Building
on his ounda ion, Sec ion 3p esen s he in eg a ed app oach o e alua ing he economic
impac o mega spo ing e en s. Sec ion 4applies his app oach o he Gi o d’I alia and
he Tou de F ance, ou lining he p ocess o de ining and measu ing economic impac s.
Sec ion 5b idges heo e ical backg ound and esul s. Finally, Sec ion 6o e s a syn hesis
o he key con ibu ions, oppo uni ies, limi a ions, and bo h manage ial and heo e ical
implica ions.
2. Theo e ical Backg ound
The economic aspec s o mega spo ing e en s a e essen ial o ensu e he economic
sus ainable o des ina ions hos ing majo spo ing e en s. Beyond he use o echnological
inno a ions (Ca doso e al.,2023;G e zel e al.,2018), i becomes essen ial o s udy he ole
o inno a ion in p omo ing inno a i e ou ism managemen p ac ices o gua an ee he eco-
nomic sus ainabili y o des ina ions hos ing majo spo ing e en s. In esponse o hese de-
mands o anspa ency in public esou ce managemen , he e is a g owing need o g ea e
insigh in o how esou ces a e alloca ed (Nicolau e al.,2019;Nielsen & Fedde sen,2023;
Va najo ,2020). A key ool o planning ou ism p omo ion and ensu ing economic sus ain-
abili y is undoub edly economic impac analysis (C omp on,1995;G a on e al.,2005). The
widesp ead applica ion o economic impac analysis has led o g ea e a en ion on nume -
ous spo ing e en s (Ande sson e al.,2016;
D akakis e al.,2021
;Dwye & Fo sy h,2019;
M. K. Kim e al.,2017;Kim,2021;Nicolau & San a-Ma ía,2017;
Pedauga e al.,2022
). These
s udies o en in es iga e me hodological aspec s (
Dimi o ski e al.,2023
). A common
poin o con en ion is he mul iplie e ec (Hun e ,1988). Hun e a gues ha mul iplie s
end o o e s a e he bene i s o businesses and ha he use o economic impac s udies
encou ages unjus i ied in es men o public unds. C omp on, howe e , disag ees wi h
Hun e ’s ou igh ejec ion, asse ing ha while economic impac analysis has i s limi a-
ions, i emains a powe ul and aluable ool when applied hough ully and wi h in eg i y
(C omp on,1995).
Some s udies speci ically add ess he economic bene i s o mega spo ing e en s
(Desbo des,2007;G a on e al.,2005). Un il he la e 1990s, hos ing such e en s was o en
iewed as a inancial bu den, p ima ily due o he la ge deb s incu ed ollowing he
1976 Mon eal Olympics and, la e , he 2004 A hens Olympics. Fo example, he A hens
Olympics le G eece wi h a signi ican budge de ici , exceeding he Eu opean Union’s
3% limi and inc easing na ional deb . Howe e , iews on he inancial implica ions o
such e en s ha e emained di ided, wi h se e al success ul examples, such as he 1984
Los Angeles Olympics and he 1992 Ba celona Olympics, demons a ing posi i e economic
impac s. Mega spo ing e en s like he Ba celona and Los Angeles Olympics, he Adelaide
G and P ix, he Calga y Win e Olympics, and he Commonweal h Games in Vic o ia can
also ele a e he p o iles o non-capi al ci ies. The 1992 Ba celona Olympics, o example,
helped Spain p omo e an al e na i e ou ism p oduc , shi ing ocus om mass coas al
ou ism and posi ioning Ba celona as a leading Eu opean des ina ion (Desbo des,2007;
G a on e al.,2005).
Local au ho i ies equen ly in es signi ican unds in spo ing e en s, which gene a e
subs an ial addi ional spending (C omp on,1995;G a on e al.,2005;Mules & Faulkne ,
1996). Since only go e nmen s ypically ha e he esou ces o hos such e en s, i is
Adm. Sci. 2025,15, 35 4 o 21
gene ally belie ed ha hey inc ease ou ism spending and enhance a des ina ion’s image,
he eby con ibu ing o inc eased isi a ion du ing o -peak seasons. In hei analysis o
Olympic impac s udies, Ki kup and Majo (2006) emphasize ha he economic bene i s o
he Olympic Games a e la gely ela ed o ou ism, which becomes he las ing legacy o he
e en (Ki kup & Majo ,2006). This ou ism legacy has been a co e a gumen o hos ing he
Tou de F ance in bo h London and Ken . As demons a ed by some au ho s, he Tou de
F ance has a clea posi i e impac on he local economy, wi h esiden s gene ally exp essing
s ong suppo o he e en (Balduck e al.,2011;Bull & Lo ell,2007;Desbo des,2007).
In ecen decades, he numbe o mega spo ing e en s has signi ican ly inc eased,
pa alleled by in ense compe i ion among ci ies and s a es eage o hos hem. The li e a u e
o en highligh s he widesp ead belie ha hos ing mega spo ing e en s is ex emely
bene icial (Desbo des,2007;Roche,2006). Acco ding o G a on e al. (2005), go e nmen s
wo ldwide ha e adop ed na ional spo s policies ha include o ganizing mega spo ing
e en s. The bene i s o such e en s a e o en seen in u ban egene a ion (Hall,2004), spo s
legacies, ou ism, image enhancemen , as well as social, cul u al, and economic gains
(G a on e al.,2005).
In e na ional esea ch has p ima ily ocused on he economic impac s o mega spo ing
e en s like he Olympics, he FIFA Wo ld Cup, and he Tou de F ance. Some s udies also
explo e he pe spec i es o local esiden s. One in e es ing s udy examined he pe cep ions
o Can e bu y esiden s du ing he 2007 Tou de F ance (Bull & Lo ell,2007). The esul s
desc ibed ha he majo i y o esiden s we e awa e o he e en , and many in ended
o wa ch he ace o engage in ela ed ac i i ies. Despi e some nega i e impac s, he e
was o e whelming suppo o hos ing he e en , ci ing posi i e ou comes such as ci y
p omo ion, inc eased ou ism, and local economic de elopmen (Desbo des,2007). Ano he
no ewo hy s udy examines he es ima ed willingness o pay o ci izens o hos he Tou de
F ance in Denma k in 2022 (Nielsen & Fedde sen,2023). The indings o his s udy e eal
Danish households’ willingness o pay o hos ing he ini ial h ee s ages o his iconic
cycling e en , wi h pa icula a en ion o how physical dis ance om he e en in luences
hei willingness o pay.
Unlike he Olympics and he FIFA Wo ld Cup, which equi e signi ican in es men in
pe manen in as uc u e, cycling ou s like he Gi o d’I alia o he Tou de F ance incu
p ima ily in angible cos s, such as p omo ion, associa ed e en s, and secu i y managemen .
Consequen ly, hese cos s a e less isible, o e ing an ad an age o hos ing such e en s
(Bull & Lo ell,2007;de Boe e al.,2019;Makkonen & Mi ze,2023). In addi ion o he main
ace, majo cycling ou s ea u e ee cul u al, musical, and spo ing e en s in he weeks
leading up o he ace, b oadening he expe ience and a ac ing la ge audiences. Unlike
he Olympics o Wo ld Cup, which occu once e e y ou yea s, majo cycling ou s a e
annual e en s. Fo ins ance, he Tou de F ance includes 21 s ages co e ing app oxima ely
3500 km on public oads, wi h 22 eams, each consis ing o eigh ide s. A key ea u e o
hese e en s is he mo emen om one ci y o ano he o e 3 weeks, wi h mos s ages
s a ing in one ci y and inishing in ano he .
The economic e alua ion o mega spo ing e en s can be conduc ed using a a ie y o
app oaches o da a collec ion and analysis. To iden i y he mos app op ia e me hod o
economic impac analysis, a comp ehensi e li e a u e e iew was conduc ed o examine
he p ima y me hods o e alua ing he economic impac o mega spo ing e en s. The
main app oaches a e inpu –ou pu (i e alua es he di ec , indi ec , and induced impac
o an e en by conside ing he mone a y lows h ough he economy o he e en a ea),
public accoun ing (i es ima es he e en ’s impac on he b oade economy o a speci ic a ea
h ough mac oeconomic da a, ocusing on key indica o s), demand assessmen (i e alua es
he ou ism demand gene a ed by he e en using su eys and in e iews o collec da a
Adm. Sci. 2025,15, 35 5 o 21
on spending), benchma king (i assesses he ac i i y pe o mance by compa ing i o
es ablished e e ence s anda ds), and mul iplie s (i de ines he chain e ec s gene a ed by
he ini ial spending o an e en , using mul iplie analysis o es ima e indi ec impac ).
All app oaches ha e ce ain ad an ages and disad an ages (Table 1). Fo example, he
use o mul iplie s has nume ous limi a ions. These include (a) simpli ied assump ions: he
mul iplie me hod o en assumes ha ela ionships wi hin he economy emain cons an ,
which may no be ealis ic; (b) leakage e ec s: induced economic e ec s may no emain
wi hin he local a ea, as pa o he spending may low o o he egions; and (c) da a quali y:
he accu acy o calcula ions depends on he a ailabili y and quali y o economic da a.
Table 1. Ad an ages and disad an ages o economic impac analysis app oaches.
App oach Ad an ages Disad an ages
Inpu –Ou pu
I p o ides a comp ehensi e iew o
economic in e ac ions and cap u es
bo h di ec and indi ec e ec s.
I may o e es ima e e ec s, equi e
upda ed da a, no ecognize he
e ec s, and be complex implemen .
Public
Accoun ing
I o e s a b oad pe spec i e on he
e en ’s economic in luence.
I may o e look localized e ec s and
ail o cap u e non-mone a y bene i s
and o de ine he e en s e ec s.
Demand
Assessmen
I p o ides de ailed insigh in o
spec a o beha io and spending
pa e ns.
I may su e om biases in su ey
da a and lack o ep esen a i eness.
Benchma king
I acili a es compa ison wi h o he
e en s, o e ing a pe o mance
con ex .
I may no ully accoun o
con ex ual di e ences be ween
e en s, leading o incomple e
compa isons.
Mul iplie s
I es ima es he b oade economic
impac o e en - ela ed spending.
I may lead o o e es ima es o
inaccu acies due o complex
calcula ions based on assump ions.
As highligh ed by nume ous au ho s, he iangula ion o hese economic impac ap-
p oaches can con ibu e o achie ing mo e obus and eliable ou comes (
Bull & Lo ell,2007
;
C omp on,1995;Desbo des,2007;G a on e al.,2005;Hun e ,1988;Nicolau e al.,2019).
The iangula ion o di e se da a sou ces can u he enhance he alidi y o he esul s by
enabling a comp ehensi e and accu a e assessmen o he economic impac o he e en
(Yin,2018).
To add ess hese limi a ions, da a om a ious sou ces can be employed, including
he ollowing:
✓
Economic da a collec ed h ough su eys adminis e ed o pa icipan s, local esiden s,
and spec a o s, p o iding di ec insigh s in o hei spending and expe iences.
✓
O icial economic da a ob ained om go e nmen al agencies and na ional o egional
s a is ical ins i u es o e alua e he e en ’s impac on he local, egional, o na ional
economy. These da a may include employmen s a is ics, income le els, and ax e enues.
✓
Da a on indi ec and induced economic e ec s ga he ed om go e nmen sou ces,
indus y o ganiza ions, and ma ke s udies o assess he e en ’s b oade economic im-
plica ions. This sou ce includes da a om ela ed sec o s such as ou ism, hospi ali y,
e ail, and anspo a ion.
✓
De ailed economic da a speci ic o he e en , collec ed om o ganize s and sponso s,
o e ing inancial insigh s o e alua e he o e all economic impac .
✓
Economic da a ob ained ia au oma ed moni o ing and digi al echnologies, such as
acking people lows, inancial ansac ions, and o he e en - ela ed indica o s using
big da a sys ems, IoT senso s, and acking analy ics.
Adm. Sci. 2025,15, 35 6 o 21
✓
Da a om p io academic s udies on he economic impac s o simila e en s, which
can se e as e e ence poin s o compa ison and u he analysis.
3. Ma e ials and Me hods
This sec ion p oposes a guideline o economic impac analysis o spo ing e en s
based on igo ous esea ch design. I illus a es he objec i es and he o e all s a egy guid-
ing he p ocesses o da a collec ion and analysis (Yin,2018). The esea ch design is c i ical
o ensu ing ha he s udy’s indings a e alid, eliable, and gene alizable. Speci ically, he
design ensu es alidi y by gua an eeing ha he indings e ec i ely add ess he esea ch
objec i es, eliabili y by ensu ing ha he esul s a e consis en and ep oducible, and
gene alizabili y by allowing he indings o be applied o o he con ex s. A obus esea ch
design is essen ial o sys ema ically add essing he esea ch ques ions and p oducing
c edible esul s (Yin,2018).
The p oposed me hodological s eps o e alua ing he economic impac a e as ollows:
✓
Phase 1: De ine he Impac o Spo s on he Ta ge A ea, he Regula o y F amewo k,
he E en Fea u es, and he Public Expendi u e.
✓Phase 2: Mapping he Ac o s ha De e mine he Economic Impac .
✓Phase 3: De elop a F amewo k o Rep esen ing he Economic Impac .
✓Phase 4: De ining he Di ec , Indi ec , and Induced E ec s.
✓Phase 5: De e mining he Ne Economic Impac .
Phase 1: De ine he Impac o Spo s on he Ta ge A ea, he Regula o y F amewo k,
he E en Fea u es, and he Public Expendi u e.
This phase in ol es he analysis o se e al key aspec s and sou ces o es ablish he
con ex and ounda ion o he s udy. Fi s , he ole o he spo in he a ea hos ing he
e en is examined, including ac o s such as he his o ical signi icance o he spo , con-
ibu ion o GDP, and ends in spo s pa icipa ion. The main sou ces o his analysis
include minis e ial epo s, ins i u ional epo s, and esea ch pape s. Second, he egula-
o y amewo k go e ning he spo ing e en is analyzed, co e ing in e na ional, na ional,
egional, and local egula ions. The main sou ces a e he o icial egula o y documen s
a a ious ju isdic ional le els (in e na ional, na ional, egional, and local). Thi d, he
cha ac e is ics o he spo ing e en a e desc ibed, including i s a ge audience, associa ed
pa allel e en s, iming, and loca ion. Rele an in o ma ion is collec ed om egula o y
documen s (in e na ional, na ional, egional, and local), spo s ac i i y p og ams, con ac s
be ween he e en o ganize s and he p incipal, o icial e en calenda s, and desc ip ions
o enues and ace ou es. These documen s a e in eg a ed wi h semi-s uc u ed in e -
iews wi h ep esen a i es o he p incipal, public au ho i ies, and ou ism p omo ion
companies. Addi ional insigh s a e ga he ed om he o icial websi es o he key pa -
ies in ol ed, including he p incipal, e en o ganize s, public au ho i ies, and ou ism
p omo ion companies. Finally, he expendi u e incu ed by he p incipal in o ganizing
he e en is conside ed. The main sou ces include egula o y documen s (in e na ional,
na ional, egional, and local), con ac s be ween he e en o ganize s and he p incipal,
e i o ial p omo ion con ac s, and inancial epo s om public au ho i ies. These a e
u he supplemen ed by semi-s uc u ed in e iews wi h ep esen a i es o he p incipal,
public au ho i ies, and ou ism p omo ion companies.
Phase 2: Mapping he Ac o s ha De e mine he Economic Impac .
This phase should be de eloped in collabo a ion wi h he p incipals, public au ho i ies,
e en o ganize s, and ou ism p omo ion companies. I aims o iden i y he ac o s ha
eme ge du ing he esea ch p ocess. This ac i i y is pa icula ly use ul in he ea ly s ages
Adm. Sci. 2025,15, 35 7 o 21
o a s udy, when he esea che is explo ing an unde ined o complex ield and seeking o
unde s and he connec ions be ween a ious elemen s.
Phase 3: De elop a F amewo k o Rep esen ing he Economic Impac .
The economic impac amewo k de eloped by C omp on (1995) is employed o
analyze he economic impac o e en s, p ojec s, o ac i i ies wi hin a speci ic e i o y.
This amewo k aims o iden i y how expendi u es associa ed wi h an e en gene a e
economic bene i s o he local communi y. The amewo k iden i ies h ee ypes o e ec s.
The di ec e ec e e s o he immedia e impac o spending by ac o s in he e en a ea
(e.g., money spen on accommoda ions, es au an s, anspo a ion, and en e ainmen ).
The indi ec e ec encompasses he subsequen ounds o spending by economic agen s
who use he immedia e expendi u es o mee he inc eased demand c ea ed by he e en .
This is pa icula ly ele an o spending ela ed o spec a o s, wi h he assump ion ha
hei expendi u es a e gene a ed exclusi ely by hose a ending he e en . The induced
e ec e lec s he impac on e enues gene a ed in all sec o s due o changes in income and
spending le els o esiden s in he e en a ea, linked o he e en .
Phase 4: De ining he Di ec , Indi ec , and Induced E ec s.
The da a sou ces o his phase include a ious documen s, such as he e i o ial
p omo ion con ac , managemen and inancial epo s by he con ac p incipal, and e-
po s om ou ism obse a o ies, elec onic paymen sys ems, e c. In addi ion o hese
documen s, da a a e also collec ed h ough in e iews based on ques ionnai e conduc ed
wi h spec a o s such as o he esea che s on a simila opic (Benages & Maudos,2024;
Desbo des,2007
;Nielsen & Fedde sen,2023). The su ey was designed o iden i y spec a-
o s wi h an in e es in he e en s and o assess hei economic impac , excluding indi iduals
who we e no in e es ed in he e en and he e o e no ele an o he scope o he esea ch.
The in e iewe s adminis e ques ionnai e du ing he e en o spec a o s nea he s a
and inish a eas, using digi al ools (Fo za,2002). The ques ionnai e includes he ollowing
sec ions: sample p o ile, ype o expenses, and u he in o ma ion (see Appendix A).
Phase 5: De e mining he Ne Economic Impac .
Acco ding o C omp on (1995), he economic impac is es ima ed h ough he ipple
e ec o spending in he local economy, e alua ing he economic impac o he ini ial
spending on economic ac i i ies. To de e mine he ne economic impac , he calcula ion
in ol es deduc ing he e en - ela ed expenses incu ed by he o ganize s om he g oss
impac . The inal calcula ion o he ne economic impac is exp essed as ollows:
Ne economic impac = Di ec E ec + Indi ec E ec + Induced E ec
−
Public Expendi u e
This app oach allows o a comp ehensi e assessmen o he ne economic impac ,
cap u ing bo h di ec and cascading bene i s o he local economy.
A e p esen ing he me hodological s eps de i ed om he li e a u e e iew, he pape
applies he p oposed app oach o wo o he mos p es igious in e na ional p o essional
cycling ou s: he Gi o d’I alia and he Tou de F ance. The analysis ocuses on he economic
impac o some s ages o hese wo key e en s on a speci ic geog aphic a ea: he Piedmon
egion o I aly. The pape es ed his app oach on hese a eas because i held hese wo
p es igious in e na ional p o essional cycling ou s in he same pe iod: 2024. Fu he mo e,
as highligh ed in he In oduc ion, his s udy ocuses on his spo ing domain because
cycling e en s possess unique cha ac e is ics wi hin he con ex o mega spo ing e en s:
(a) minimal cos s associa ed wi h cons uc ing pe manen physical s uc u es; (b) cos s
p ima ily ela ed o se ices (e.g., p omo ion, secu i y); and (c) no icke sales o spec a o s,
excep in speci ic compe i ion a eas.
Adm. Sci. 2025,15, 35 8 o 21
As no ed in esolu ions D.G.R. n. 1-6858 and n. 1-7497 o 2023 om he Piedmon
Regional Council as well as nume ous esea ches and epo s (IRES,2023;Is i u o C edi o
Spo i o e Spo e Salu e,2024;Osse a o io Spo Sys em i aliano Banca IFIS,2023),
he Gi o d’I alia and he Tou de F ance ep esen wo o he wo ld’s mos signi ican
spo ing e en s in e ms o public ollowing, pa icipa ion by op cycling champions, media
co e age, and economic impac , including ou ism. These e en s a e also pa o he UCI
Wo ld Tou p o essional calenda ; hey a e global e en s. The Gi o d’I alia 2023 achie ed a
global audience o 694 million iewe s, wi h 23,285 h o TV b oadcas s and a media-d i en
economic e u n exceeding EUR 55 million. The Tou de F ance 2023 eached a global
audience o app oxima ely 2 billion iewe s.
4. Resul s
Following he guideline desc ibed in he p e ious sec ion, his sec ion p esen s he
economic impac analysis o he Gi o d’I alia and he Tou de F ance.
Phase 1: De ine he Impac o Spo s on he Ta ge A ea, he Regula o y F amewo k,
he E en Fea u es, and he Public Expendi u e.
Acco ding o he social economic esea ch ins i u e epo commissioned by he Pied-
mon Region, i led “Piedmon : Eu opean Region o Spo 2022” (IRES,2023), Piedmon
boas s a long and well-es ablished spo ing adi ion. This adi ion has deep oo s, s a ing
wi h he ounding o he I alian Alpine Club in 1865, he i s I alian ski club in 1906, and ex-
ending o he wo ld’s oldes cycling ace, he Milan-Tu in, i s held in 1876. Mo e ecen ly,
Piedmon hos ed mega in e na ional e en s such as he 1997 Wo ld Ski Championships and
he 2006 Win e Olympic Games. This his o ical spo s adi ion is suppo ed by nume ous
spo s associa ions and housands o pa icipan s and ans ac oss a ious disciplines; i is
wi hin his con ex ha Piedmon ea ned he i le o “Eu opean Region o Spo ” o 2022.
In ecen yea s, Piedmon has hos ed nume ous in e na ional spo ing e en s such as
he Gi o d’I alia and he NITTO ATP Finals. The objec i es o he “Piedmon Eu opean
Region o Spo ” p ojec we e a ied, including s eng hening he egion’s image as an
a ea wi h a s ong spo ing oca ion, inc easing in e na ional isibili y o Piedmon o
ou ism and spo , and s imula ing spo s p ac ice among esiden s. A su ey conduc ed
by I alian na ional ins i u e o s a is ics highligh s ha Piedmon has 308,388 a hle es,
4187 spo s clubs, and 62,011 spo s ope a o s, wi h a numbe o a hle es highe han he
na ional a e age.
On 1 Oc obe 2020, he Piedmon Regional Council app o ed a law ega ding “Reg-
ula ions on he p omo ion and spo s acili ies,” which epealed i e sec o -speci ic laws,
including he key one o he egional spo s sys em, enac ed on 22 Decembe 1995, n. 93,
which had de ined he egion’s spo s policies o abou 25 yea s. I ecognizes he social,
educa ional, o ma i e, and economic ole o spo s p ac ice and conside s physical ac i i y
a undamen al alue o p omo ing human g ow h, imp o ing li es yles, and p omo ing
men al and physical well-being, heal h p o ec ion, social ela ionships, inclusion, and equal
oppo uni ies. In line wi h he p inciples o he Eu opean Union, he Piedmon Region
di ec s i s policies and ac ions owa d goals such as he p omo ion, di usion, and de el-
opmen o physical and ec ea ional spo s o all age g oups, as well as using spo s as
a ool o e i o ial p omo ion, including o ou ism and economic de elopmen . The
Piedmon Region pu sues hese goals h ough con inuous in e ac ion wi h local au ho i ies
he spo s sys em he heal h, educa ional sec o s and o he ele an bodies. In ecogni ion
o his alue, he Piedmon Region was p oclaimed he “Eu opean Region o Spo 2022”.
In 2022, he Piedmon Region alloca ed app oxima ely EUR 65 million o he e i o y o
de elop ac i i ies like spo s acili ies and e en p omo ion. Gi en he signi ican inancial
in e en ion and he in en o con inue in es ing in he spo s sec o , he impo ance o
Adm. Sci. 2025,15, 35 15 o 21
The body o esea ch explo ing his analysis is as ; a ious au ho s de eloped di e se
app oaches o ga he ing and analyzing da a conce ning he economic impac o mega
spo ing e en s (Ba ajas e al.,2012;Ba andela & Fe nández,2021;Bull & Lo ell,2007;
C omp on,1995;de Boe e al.,2019;Desbo des,2007;Makkonen & Mi ze,2023;Nielsen &
Fedde sen,2023). While each app oach p esen s bo h ad an ages and disad an ages, his
pape p oposed an inno a i e in eg a ed app oach o assessing he economic impac o
mega spo ing e en s; his in eg a ion also a o s a mo e p uden es ima ion o an e en ’s
economic impac . This app oach has been es ed h ough he G ande Depa o he Gi o
d’I alia 2024 and he Tou de F ance 2024 in he Piedmon . By adop ing a iangula ion
ha in eg a es me hods as well as mul iple da a sou ces and analy ical echniques, his
s udy o e s a obus and comp ehensi e means o assessing he economic impac o mega
spo ing e en s. The p oposed app oach is designed o p o ide decision-make s wi h a
clea e unde s anding o he po en ial economic bene i s associa ed wi h hos ing mega
spo ing e en . By calcula ing di ec , indi ec , and induced economic impac s, he app oach
p oposed helps o iden i y a eas whe e in es men s and imp o emen s could yield long-
e m bene i s o local economy. The app oach p oposed and es ed on he Gi o d’I alia and
Tou de F ance is illus a ed below (see Figu e 2).
Phase 1:
De ine he
Impac o
Spo s on he
Ta ge A ea.
Phase 2:
Mapping he
Ac o s Tha
De e mine he
Economic
Impac .
Phase 3:
De elop a
F amewo k o
Rep esen ing
he Economic
Impac .
Phase 4:
De ining he
Di ec , Indi ec ,
and Induced
E ec s.
Phase 5:
De e mining
he Ne
Economic
Impac .
Figu e 2. App oach o economic impac analysis.
Howe e , o s eng hen he in e p e a ion o hese esul s and enhance hei dep h, i is
c ucial o con ex ualize hem by compa ing he indings wi h simila s udies and ancho ing
hem wi hin es ablished o eme ging amewo ks o sus ainable ou ism de elopmen
(see Table 11).
Table 11. P e ious s udies on simila mega e en s.
E en s
No. S ages 1
G oss Economic
Di ec Impac
No.
In e iews
Da a Collec ed
Me hod
Public
Expendi u e Sou ce
Tou 2005 (1) EUR 476,000 757 Ques ionnai e EUR 150,000 (Desbo des,2007)
Tou 2007 (4) 2EUR 150 MM >1400 Ques ionnai e EUR 6 MM (Collins e al.,2012)
Tou 2015 (4) EUR 33.6 MM 1520 Ques ionnai e EUR 18.1 MM (Dijk e al.,2015)
Tou 2022 (6) EUR 12.8–26 MM 760 3Ques ionnai e EUR 21 MM (Nielsen & Fedde sen,2023)
Gi o 2016 (6) EUR 18.2–19.5 MM 572 3Ques ionnai e EUR 12.4 MM (de Boe e al.,2019)
1S a o inish. 2Including also indi ec impac . 3Willingness o pay.
This able p esen s an o e iew o key economic impac analyses conduc ed on he
Tou de F ance and he Gi o d’I alia and published on ele an jou nals. These s udies
illus a e how hos ing such e en s can gene a e subs an ial economic bene i s o local
Adm. Sci. 2025,15, 35 16 o 21
communi ies h ough di ec spending, inc eased ou ism, and b oade indi ec e ec s
on egional economies. Compa ing hese indings ac oss di e en edi ions o he e en s
e eals a ia ions in he scope and magni ude o economic impac s, highligh ing ha such
di e ences a e in luenced by local con ex s. This a iabili y unde sco es he impo ance o
adop ing a holis ic and con ex -speci ic app oach when analyzing he long- e m bene i s
o mega e en s. By si ua ing hese indings wi hin b oade discussions on sus ainable
ou ism, he esul s can be be e in e p e ed, hus p o iding mo e aluable insigh s o
policy-make s and s akeholde s in ol ed in he planning and managemen o u u e e en s.
I is impo an o cla i y ha economic impac analyses mus always accoun o he
speci ic con ex . Consequen ly, ci ies, egions, and s a es can a ely adop indings de i ed
om e alua ions conduc ed in di e en con ex s o e en s. Such an app oach could lead
o po en ial e o s in assessing he economic sus ainabili y o an e en and, consequen ly,
dis o he decision-making p ocess.
6. Conclusions
The impo ance o sma ou ism o sus ainable ou ism is inc easingly e iden . The
economic aspec hus becomes undamen al o ensu e adequa e in es men s in echnologi-
cal inno a ions and ensu e economic sus ainabili y, pa icula ly applied o mega spo ing
e en s. In his scena io, economic impac analysis plays a key ole in e alua ing he eco-
nomic sus ainabili y o he a eas hos ing hese e en s. Al hough nume ous me hods a e
a ailable, he in eg a ion o mul iple app oaches is a ely epo ed. This s udy p oposed
an inno a i e app oach ha combines di e en me hods o p o ide a obus economic
impac analysis o mega spo ing e en s, alida ed h ough he analysis o wo p es igious
cycling compe i ions: he Gi o d’I alia and he Tou de F ance. By quan i ying he di ec ,
indi ec , and induced economic impac s, he p oposed app oach suppo decision-making
p ocesses o plan ou ism p omo ion and ensu e economic sus ainabili y. Economic impac
analyses should always be ailo ed o he speci ic con ex in which hey a e conduc ed.
Public adminis a o s o o he commi men s a e unlikely o di ec ly apply esul s om
e alua ions ca ied ou in o he se ings o unde di e en ci cums ances. Doing so could
esul in inaccu acies when e alua ing economic sus ainabili y o a mega e en s and, in
u n, lead o e o in o decision-making p ocesses.
The heo e ical and p ac ical con ibu ions o his esea ch lie in p esen ing an inno-
a i e app oach ha can be applied o e alua e he economic impac s o hos ing mega
spo ing e en s. This app oach is adap able and can be applied o a wide ange o eal-
wo ld con ex s. By es ablishing a clea and eplicable app oach, his s udy empowe s u u e
esea ch and p o ides a igo ous guideline o ci ies, egions, and s a es seeking o assess
he po en ial economic impac o spo ing e en s.
The s udy p esen s se e al limi a ions ha wa an u he a en ion. Fi s , he p o-
posed app oach has been applied exclusi ely o mul i-s age cycling aces, which a e
cha ac e ized by pa icula logis ical and o ganiza ional challenges. This na ow ocus
aises conce ns abou he gene alizabili y o he indings o o he ypes o e en s. The
app oach p oposed may no be di ec ly applicable o o he spo ing compe i ions o o
non-spo ing e en s such as es i als, ade ai s, o con e ences, which ope a e unde
signi ican ly di e en s uc u al and economic condi ions.
Fu u e esea ch may es he p oposed app oach ac oss a wide a ie y o e en ypes,
including spo ing compe i ions, es i als, ade ai s, and con e ences, in o de o be e
e alua e i s gene alizabili y ac oss di e en con ex s. Fu u e s udies should also in eg a e
he economic e ec s o digi al engagemen , such as he media, social media, and b oadcas
e enues, which ha e become inc easingly pi o al in de e mining he inancial success o
e en s. In an e a whe e global isibili y is la gely d i en by online pla o ms, igno ing hese
Adm. Sci. 2025,15, 35 17 o 21
ac o s isks unde es ima ing he ue economic impac o mega spo ing e en s. Finally,
u u e esea ch should also explo e he en i onmen al and social impac s o hos ing mega
spo ing e en s o gain a mo e comp ehensi e unde s anding o hei o e all alue. While
his s udy ocused on he economic impac , he b oade en i onmen al and social impac s
o hos ing mega spo ing e en s can also p o ide aluable insigh s in o hei long- e m
alue o he hos egions. By b oadening he scope o impac analysis o include hese
aspec s, u u e esea ch can o e a mo e holis ic iew o he o e all bene i s o hos ing mega
in e na ional spo ing e en s, ul ima ely helping policymake s and o ganize s maximize
he posi i e impac s o hos egions.
Au ho Con ibu ions: Concep ualiza ion, A.S.; me hodology, A.S.; alida ion, A.S., A.R. and E.S.;
o mal analysis, A.S., A.R. and E.S.; in es iga ion, A.S., A.R. and E.S.; w i ing—o iginal d a p epa-
a ion, A.S.; w i ing— e iew and edi ing, A.R. and E.S. All au ho s ha e ead and ag eed o he
published e sion o he manusc ip .
Funding: This esea ch ecei ed no ex e nal unding.
Da a A ailabili y S a emen : The o iginal con ibu ions p esen ed in he s udy a e included in
he a icle.
Acknowledgmen s: The au ho s wish o ex end hei since e g a i ude o all hose who con ibu ed
o he esea ch in he con ex o he assignmen CIG B16C5501DE. In pa icula , we would like o
acknowledge Sil ia Molina io and Alessand o Zanon om Visi Piemon e Sc l; Da ide G ego io
Balena, Ge mano Gola, and Rubens Gaspa do om he Regione Piemon e; as well as all o he
indi iduals who ha e suppo ed he p ojec in a ious capaci ies.
Con lic s o In e es : The au ho s decla e no con lic o in e es .
Appendix A
Table A1. Ques ionnai e.
SECTION I: Sample P o ile
How old a e you?
Unde 30
31–50
O e 51
Whe e a e you om?
P o ince o s age
Piedmon
I aly
Ou o I aly
A e you he e o he spo ing e en ? 1YES/NO
How many people a e he e?
How many days will you s ay?
Will you a end o he s ages in Piedmon Region?
SECTION II: Type o Expenses
How much do you ypically spend on . . .. . .?
T anspo
Accommoda ion
Food and be e age
Shopping
O he s
Wha is you a e age pe capi a spending o his e en ?
SECTION III: No es
Addi ional in o ma ion o epo
1Fil e ques ion: I he esponden answe s ‘NO’, he/she is excluded om he su ey.
Adm. Sci. 2025,15, 35 18 o 21
Appendix B
Table A2. Main egula ions conce ning he Gi o d’I alia and he Tou de F ance 2024.
REGIONAL LAW
2020 Regional law n. 23—Regula ions on he p omo ion and spo s acili y planning.
REGIONAL COUNCIL RESOLUTION—D.G.R.
2022 D.G.R. n. 41-6334 SUBJECT: Regional Law 23/2020. G and Depa Tou de F ance 2024.
App o al o he Memo andum o Unde s anding d a and ini ial p o isions. To al egional
expendi u e o up o EUR 1,341,370.00.
2023 D.G.R. n. 43-6805 SUBJECT: Regional Law 23/2020, A icle 5. “Adop ion o he Th ee-Yea
P og am 2023/2025 o he p omo ion o physical-mo o ac i i ies and spo s acili y planning”.
2023 D.G.R. n. 1-6858 SUBJECT: Regional Law 23/2020. G and Depa Tou de F ance 2024.
D.G.R. 41-6334 o 22 Decembe 2022. App o al o he coope a ion con ac d a wi h he
Emilia-Romagna Region and he Me opoli an Ci y o Flo ence. To al egional expendi u e o up
o EUR 1,701,462.42.
2023 D.G.R. n. 1-7497/2023/XI SUBJECT: Regional Law 23/2020. Th ee-yea P og am 2023–2025
o he p omo ion o physical-mo o ac i i ies and spo s acili y planning, as pe D.C.R. n.
282-15261 o 27 June 2023. Guidelines o he selec ion o he “G and Depa del Gi o d’I alia”
cycling e en o 2024 wi hin Measu e B.5 “Mega Spo ing E en s”.
2023 D.G.R. n. 23-7623/2023/XI SUBJECT: Regional Law 23/2020. Mul i-annual p og am as pe
D.C.R. n. 282-15261 o 27 June 2023. In eg a ion o he implemen a ion p og am o he p omo ion
o physical-mo o ac i i ies 2023/2024 as pe D.G.R. n. 34-7037 o 12 June 2023. To al egional
expendi u e o up o EUR 1,126,667.58, o which EUR 459,167.58 o 2023 and EUR 667,500.00 o
2024 ( o municipali ies EUR 295,102.08 o 2023).
2023 D.G.R. n. 32-7745/2023/XI SUBJECT: Regional Law 23/2020. App o al, in con inui y wi h
D.G.R. 41-6334 o 22 Decembe 2022, and D.G.R. n. 1-6858 o 15 May 2023, o he memo andum o
unde s anding d a o be signed, unde A icle 15 o Law 241/1990, wi h he Ci y o Tu in o he
o ganiza ion o he e en named “G and Dépa o he Tou de F ance 2024”. To al egional
expendi u e o EUR 1,701,462.42.
2023 D.G.R. n. 20-7886/2023/XI SUBJECT: Regional Law 23/2020. D.C.R. 27 June 2023, n.
282-15261 app o ing he Th ee-Yea P og am 2023–2025 o he p omo ion o physical-mo o
ac i i ies and spo s acili y planning. Selec ion o he cycling aces “Milano-To ino”, “G and
Depa Gi o d’I alia”, and “G an Piemon e” o 2024 wi hin Measu e B.5 “Mega Spo ing E en s”.
Maximum egional expendi u e o EUR 4,418,000.00 in 2024 and EUR 4,000,000.00 in 2025 (EUR
4,052,000.00 + EUR 4,000,000.00 o he G and Depa Gi o d’I alia 2024).
2024 D.G.R. n. 22-8200/2024/XI SUBJECT: Regional Law 23/2020. Mul i-annual p og am as pe
D.C.R. n. 282-15261 o 27 June 2023. P o isions o s a ing a single p ojec o p omo ing he
image o he egional e i o y ela ed o he G and Depa o he Gi o d’I alia and Tou de F ance
2024, espec i ely as pe D.G.R. n. 1-6858 o 15 May 2023, and D.G.R. n. 20-7886 o 11 Decembe
2023. To al egional expendi u e o EUR 447,000.00.
DIRECTORIAL DETERMINATION—D.D.
2023 D.D. 123/A2106B/2023 SUBJECT: Regional Law 23/2020. G and Dépa Tou de F ance 2024.
D.G.R. n. 41-6334 o 22 Feb ua y 2022, and n. 1-6858 o 15 May 2023. Commi men o expendi u e
o he Emilia-Romagna Region amoun ing o EUR 1,701,462.42, o which EUR 650,832.42 om
accoun 153690/2023 and EUR 1,050,630.00 om accoun 153690/2024.
2023 D.D. 452/A2106B/2023 SUBJECT: Regional Law 23/2020—Mul i-annual p og am as pe
D.C.R. 282-15261 o 27 June 2023—Implemen a ion p og am as pe D.G.R. n. 34-7037 o 12 June
2023, in eg a ed wi h D.G.R. n. 23—7623 o 30 Oc obe 2023. D.D. n. 391 o 10 No embe 2023
“Supplemen a y call o Measu e B.1.1. limi ed o municipali ies ha ha e been hos s o
in e na ional cycling ace s ages (s a / inish)”. Assignmen o con ibu ions. Commi men o
EUR 282,216.52 om accoun 153690/2023 o he 2023 budge .
2024 D.D. 93/A2106B/2024 SUBJECT: Regional Law 33/2023, A icle 18. D.G.R. n. 20-7886 o 11
Decembe 2023. D.D. n. 477 o 19 Decembe 2023. Assignmen o communica ion and p omo ion
se ices o Piedmon and i s e i o y du ing he “G and Depa del Gi o d’I alia 2024” cycling
compe i ion o RCS Spo S.p.A. Reduc ion o he ese a ion and simul aneous commi men o
EUR 4,052,000.00 om accoun 141085/2024 and EUR 4,000,000.00 om accoun 141085/2025.
Adm. Sci. 2025,15, 35 19 o 21
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