The Milano–Cortina Winter Olympics are taking place in Northern Italy, marking the country's first Winter Games in 20 years. The event is expected to have a €5.3bn economic impact, with significant contributions from tourism and infrastructure investments. Approximately 2.5 million spectators are anticipated, boosting local economies. While the overall tourism impact may be smaller than summer Olympics, the dispersed hosting model is expected to alleviate overcrowding. The Games are projected to cost between €5.7bn and €5.9bn, with a significant portion funded by the government. Long-term benefits include improved infrastructure and accessibility.