The Milan-Cortina 2026 Winter Olympics are projected to generate a total economic impact of €6.1 billion, according to an analysis by Unimpresa’s research centre. The estimate includes not only direct spending linked to the Games, but also tourism, long-term infrastructure value and broader multiplier effects across the economy.
Of the total impact, €1.1 billion is expected to come from direct tourist spending during the Games, while a further €1.4 billion will be generated by tourism in the 24 months following the event. Infrastructure legacy accounts for €3.2 billion, reflecting the long-term value of permanent facilities, while net indirect effects are estimated at €400 million.
From a temporal perspective, the impact will be spread over several decades. Between 2020 and 2025, the preparation and construction phase will account for €2.1 billion, or 34% of the total, driven mainly by infrastructure projects, design services and organisational activities. February 2026 alone, when the Games take place, is expected to generate €1.3 billion - 21% of the overall impact - thanks to peak tourist spending and full operational activity.