Economic Policy

Milan’s Olympic Gamble: Who Really Benefits from Big-Event Urban Makeover?

By Economics Desk | February 24, 2026

Milan’s heavy investment in global events like the Olympics and Expo boosts its international brand—but at what cost to everyday citizens facing soaring housing prices and privatized development?

Milan’s crowning itself as an Olympic city marks an ambitious chapter in a two-decade-long push to rebrand from industrial hub to global fashion and financial capital. But beneath the gleaming skyline reshaped by colossal projects lies a more troubling reality: workers and students increasingly priced out of the city they helped build. Is Milan’s Olympic Legacy a Win for All or Just the Wealthy Few? The 2026 Milan Cortina Winter Games brought billions in investments, from upgraded sports arenas to expanded metro lines. Yet this supposedly measured approach—relying on existing venues spread across seven locations—hasn’t kept housing affordability or local...

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