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I’m a soccer fan. I’ve played soccer; I’ve coached soccer; I study soccer. I think the World Cup is an amazing event—but it looks much different to an economist than it does to a fan. From an economist’s perspective, mega-events like the World Cup and the Olympics come with both benefits and costs. We mostly hear about the benefits: FIFA estimates the World Cup could generate $770 million for the Philadelphia economy. But that doesn’t account for, for instance, the financial investment needed to prepare SEPTA for increased ridership.

The overwhelming consensus of those who study these things is that when you look at the full picture, there is little to no short-term economic benefit in mega-events. The real value, then, is in the boost to people’s sense of civic pride and—if made smartly—the investment in community infrastructure that can accompany these events. The World Cup will be a win for the region if locals and visitors alike have a fantastic experience in Philadelphia both during the 39 days of soccer this summer and long afterwards.