The pope's visit will cost an estimated 50 million euros ($72 million), according to organizers, and involves closing off much of downtown Madrid. Private companies will contribute a large portion of the money for the event, but Spain will also have to cover many of the expenses. An exact breakdown of the overall economic effect is still unknown. ...Officials in Madrid say the pope's visit, which was planned long before the current economic crisis, could generate as much as 150 million euros ($215 million) in revenues from tourists.
Owners of teams in the "big four" sports leagues — the NFL, MLB, NBA and NHL — have reaped nearly $20 billion in taxpayer subsidies for new homes since 1990. And for just as long, fans, urban planners and economists have argued that building facilities for private sports teams is a massive waste of public money. As University of Chicago economist Allen Sanderson memorably put it, "If you want to inject money into the local economy, it would be better to drop it from a helicopter than invest it in a new ballpark."
In one study of six Super Bowls, University of South Florida economist Phil Porter found "no measurable impact on spending," which he attributed to the "crowding out" effect of nonfootball tourists steering clear of town during game week.