€24.7 billion of collateral production with a value added estimated at €10.5 billion and the employment of 199 thousand resources (connected either directly or indirectly to the event). This is the direct economic impact and legacy (i.e. long-term effects) that Expo 2015 is likely to have on both Milan and the whole of Italy between 2012 and 2020. These were the results that emerged from a survey promoted by the Milan Chamber of Commerce and the Expo 2015 management company, and conducted by a team of economic analysts coordinated by Alberto Dell’Acqua, a professor at the SDA Bocconi university.
The study, which resulted in the implementation of a new economic estimate model to be made available by the Bureau of International Expositions (BIE) with a view to also evaluating future Universal Expositions, revealed that the greatest impact will be due to the influx of tourists thanks to whom the following figures have been calculated: €4 billion of value added plus the creation of approximately 80 thousand jobs to which 10 thousand work units will be added as a long-term effect for the tourist industry.
However, the entrepreneurial system will also receive benefits from the establishment of new start-ups (€1.7 billion of collateral production with the employment of 12.4 thousand resources) as well as from the increase of direct foreign investments estimated at generating the employment of 16.5 thousand resources and €1 billion of value added.
The infrastructural legacy is also likely to benefit with €1.1 billion of collateral production and the creation of more than 8 thousand jobs, generated both by investments linked to the Expo site as well as the appreciation of the value of property in the Milanese area.
Tag: Expo Milano 2015, studies and research