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A summary of the economic impact resulting from the celebration of a sporting mega-event in the city of Cali, Colombia, is carried out in this article.

The impacts are estimated by means of the systematic effects produced by the activities of investment/expenditure of the identified agents and the consequent multiplying effects captured from an input-output model.

The World Games represented a new income flow to the city of Cali of $101.036 million pesos (≡US$53.4 mill.) and 9.598 jobs were created (≡7,711 full-time jobs). Additionally, 2,174 foreign tourists and 11,250 national tourists were attracted to the city.

The article contributes with innovative aspects methodologically speaking, useful for future studies of economic impact in cities with low tourism located in developing countries.

This chapter offers empirical evidence of the contribution of a local and popular festival to diversity and inclusion in the hosting territory. With this in mind, three impacts (economic, social, and cultural) are determined and measured from the triple perspective of the creation of value of cultural assets. We show the case of the XXII edition of the Petronio Álvarez Pacific Music Festival held in the city of Cali (Colombia) from August 15th to 20th, 2018. The estimates were taken from three sources: (i) an input–output model adapted for the economy of the city of Cali, (ii) A face-to-face survey of 1,030 festival attendees over 18 years old, and (iii) A face-to-face survey of a representatives of each of the 173 business positions that took part in the Festival (e.g., handicrafts, musical instruments, traditional beverages, cuisine, hairstyles, and cosmetics). The results show that the festival: (i) generates inclusive material wealth, which is measured through income and employment for Afro-colombian communities, traditionally marginalized and economically disadvantaged; (ii) is shown as an opportunity to promote intercultural dialogue and diversity for the local community and tourists; and (iii) the community attending the festival (both locals and tourists) contribute to the cultural enrichment of the territory. The applied method might be replicated for other festivals case of studies in other countries in order to generate evidence that can be used for designing cultural policies which encourage diversity and equity in a specific territory.