It is commonly believed that hosting the Olympic Games generates substantial revenue and has a significant positive effect on a country's economy. In this paper, we examine the long-run economic impact (GDP and Tourism) that the Summer Olympic Games have on, comparing host and bid countries. Sourcing data from 1954 to 2016, we examine fifteen Summer Olympics Games. Using a differences-in-differences model, we compare the findings of the host countries’ to all of the countries that placed a bid but were not awarded the Games. The results suggest there is a minimal change in economic impact in the long term for a country’s GDP per capita and tourism arrivals.