Stadium report. A stadiums presence has a vast range of effects on those in the immediate locality. Social, economic, environmental and hedonic effects are the main criteria this report will address. My argument follows the lines of there being both po

The first 200 words of this essay...

Introduction

Stadium development and reconstruction has been a common practice throughout history, and since the turn of the millennium, the relocation of stadiums, due to various economic and bureaucratic requirements, has increased. The fundamental question concerning this report is; what constitutes an 'externality'? A solid definition: "an externality is an effect of a purchase or use decision by one set of parties on others who did not have a choice and whose interests were not taken into account" 1. For this report the 'purchase or use decision' applies to the relocation and expansion of stadia, and the 'effects' on 'others' consist of the costs and benefits to the local area and beyond (national, global etc.). One might also refer to them as 'spillover costs/benefits'. A stadium's presence has a vast range of effects on those in the immediate locality. Social, economic, environmental and hedonic effects are the main criteria this report will address. My argument follows the lines of there being both positive and negative externalities involved, with the positives being dominant.

The stadiums used in this report are:

New Wembley Stadium

Emirates Stadium

City of Manchester Stadium

2012