Hosting top-level winter events slowly changes a valley’s economy, and not always in the direction people expect. A look at winter 2025/2026, the first summer after the Games and the road to the 2028 Youth Olympic Games.

In February 2026, the stadium at Lago di Tesero and the ski jumps in Predazzo were among the busiest places in the Alps. Trentino’s promotional material said the two venues would award 59 Olympic and Paralympic medals, close to a third of the Milano Cortina total. Then the teams left, and the valley went back to counting guests. The numbers are more mixed than the February headlines suggested.

The winter that cost something

Trentino had its best winter of the decade. ISPAT, the provincial statistics institute, counted 8,017,671 overnight stays from December to April, 3.4 per cent more. Fiemme and Fassa moved the other way: Val di Fiemme and Val di Cembra, reported together, ended 2.9 per cent down, Val di Fassa 1.2 per cent down. ISPAT links February’s 2.2 per cent provincial drop to those two Olympic valleys. Fiemme arrivals fell 6.9 per cent and Fassa’s 0.9 per cent, according to il Dolomiti.

The ski areas felt it most. The Alpe Cermis marketing office reported lift passages 42 per cent lower during the Games, blaming hotels full of staff and delegations and fear of traffic. That is an operator’s figure, not an official one; the season ended 7 per cent down in attendance. The Province’s tourism councillor, Roberto Failoni, said compensation would be raised with the national government. Paolo Gilmozzi, who chairs the Fiemme and Cembra tourism board, asked for the figures to be read in context and said the valley came out stronger.

A summer that was already growing

The valley was growing in summer before the Games. ISPAT’s summer 2025 report put Fiemme and Cembra up 7.2 per cent, against 4.9 for Trentino, with June alone up 19.1 per cent across the province. For summer 2026, the numbers come from the tourism board for now, reported by L’Adige: May up 8 per cent, June the best on record, July arrivals up 3 per cent, August arrivals up 5.5 per cent, September arrivals up 8 per cent. The biggest change was price, with the average room rate going from 137 to 155 euros, up 13 per cent, which Gilmozzi presents as the aim: fewer guests paying more. A mid-summer forecast had put hotel occupancy at 59.6 per cent against 61.6 per cent in 2025. ISPAT’s final report is not out yet, and nobody can say how much of this comes from the Games.

Sport that doesn’t need snow

The rebuilt Predazzo jumps cost more than 44 million euros and work all year on ceramic in-runs and plastic landings. The FIS Nordic Summer Festival in September 2025 was the test event, and its organisers counted 1,752 jumps, 377 athletes from 33 countries, 1,868 accreditations and 400 volunteers. Since the Games, Slovenia, Canada and Switzerland have trained at Predazzo, and nearly 800 visitors have toured the jumps. At Passo Lavazè, the Province’s roller-ski circuit at 1,800 metres hosted Italian, Swedish and Norwegian squads, and 580,000 euro went to snowmaking there so races displaced from Tesero could move up.

Marcialonga covers both valleys. In 2026 its three main events drew 11,105 participants, 3,141 of them from Trentino, plus 2,368 people at side events, with more than 1,500 volunteers, 87 per cent local. The September running race had close to 2,000 runners.

Cross-country skiing at FIS level

Fiemme is the only venue to have hosted the closing stages of every Tour de Ski. The 20th edition ended there on January 3 and 4, 2026, with 35 nations and served as the first test of the renovated Tesero tracks. The Final Climb matters through television: Infront Italia says it has the best ratings of the World Cup, with shares up to 50 per cent in Nordic countries and 4.6 million German viewers last year. Those are the distributor’s figures. German overnight stays in Trentino rose 14.5 per cent last winter, to more than 500,000, but no study links the two. Before the Olympics, the committee planned for 296 cross-country and 180 para athletes at Tesero, on tracks rebuilt to FIS standards, according to the Province.

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The buildings that were meant to stay

The Tesero stadium reopened in January 2026 after a 20.77 million euro rebuild: 6.25 million for tracks and technology, with snowmaking designed to double output, about 5 million for a building that houses the FISI testing centre, 4.95 million for an underground wing. Tesero signed a 20-year contract with FISI that makes it the federation’s Nordic centre, and a roller-ski track is planned. The Latemar gondola cost 15.5 million, and Fiemme’s ski areas account for more than 10 per cent of Trentino’s winter lift passages. Not everyone is convinced. Mountain Wilderness Italia questioned the cost of the jumps, the tracks and the Piné ice rink, and Tesero’s Italian cross-country ski school closed during the works.

What can be counted, and what can’t

Trentino received more than 300 million euros of Olympic works, Province president Maurizio Fugatti said in April. The Province also took on up to 79.6 million euro of joint liability for the Milano Cortina foundation, whose deficit was forecast above 300 million, according to il Fatto Quotidiano. Unimpresa put the impact on Trentino-Alto Adige at 800 million euro, 1.6 per cent of regional GDP, a pre-Games forecast for the whole region. S&P warned the long-term effect would be limited. The 8 to 9 million euro a year organisers quote for Marcialonga comes from a thesis based on 2010 to 2013 surveys. No source gives a Fiemme and Fassa figure on jobs, turnover or per-guest spending.

Looking at 2028

The Winter Youth Olympic Games run from January 15 to 29, 2028, with a Trentino cluster at Tesero, Predazzo and Baselga di Piné, and seven of eleven venues were already used in 2026. Before that, the Tour de Ski final stages are on January 8, 9 and 10, 2027, and the 54th Marcialonga on January 31. The valley is also stretching the year beyond sport with a wellness and longevity plan aimed at June and September and a bid to join the UN Tourism network, presented in September. An Istat official said that in the series he showed, June overnight stays had doubled in ten years. The risk sits elsewhere: the IOC left Nordic combined out of the 2030 Games. The number to watch is ISPAT’s report on winter 2026/2027, normally out in July, the first winter with no Olympic crowd and no Olympic displacement.

Read More: FIS unveils 2026/2027 cross-country skiing World Cup calendar

Are you interested in traditional cross-country skiing? Click HERE and read more about it.

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Sources

Official statistics and institutions

•         ISPAT, tourism movement in Trentino, winter 2025/26 (published 30 July 2026): https://www.agenziagiornalisticaopinione.it/opinionews-tn-aa/pat-ispat-turismo-trentino-stagione-invernale-2025-2026-arrivi-aumentati-del-33-presenze-a-34/ (full report PDF linked there: https://www.agenziagiornalisticaopinione.it/wp-content/uploads/2026/07/MovimentoTuristicoTrentinoStagioneInvernale2025_2026.1785402944.pdf)
•         ISPAT, tourism movement in Trentino, summer 2025 (via Sistan, 13 January 2026): https://www.sistan.it/news/notizia/il-movimento-turistico-trentino-0 (report PDF: http://www.statistica.provincia.tn.it/binary/pat_statistica_new/turismo/MovimentoTuristicoInTrentinoStagioneEstiva2025.1768301631.pdf)
•         Provincia autonoma di Trento press office, new Tesero cross-country stadium (10 January 2026): https://www.ufficiostampa.provincia.tn.it/Comunicati/Inaugurato-il-nuovo-Stadio-del-Fondo-Fabio-Canal-a-Lago-di-Tesero
•         Provincia autonoma di Trento press office, Passo Lavaze (16 June 2025): https://www.ufficiostampa.provincia.tn.it/layout/set/print/Comunicati/Fugatti-In-Trentino-impianti-sportivi-di-eccellenza-un-investimento-per-il-territorio
•         Provincia autonoma di Trento press office, Latemar gondola (23 March 2026): https://www.ufficiostampa.provincia.tn.it/content/view/pdf/297453
•         Ministry of Infrastructure and Transport (MIT), Tesero stadium works, including the planned roller-ski track: https://mit.gov.it/node/21033
•         IOC / Olympics.com, Dolomiti Valtellina 2028: https://www.olympics.com/en/olympic-games/dolomiti-valtellina-2028 and https://www.olympics.com/ioc/dolomiti-valtellina-2028
•         Visit Trentino, Milano Cortina 2026 in Trentino (59 medals, venues): https://www.visittrentino.info/it/articoli/grande-sport/olimpiadi-e-paralimpiadi-2026

Organisers’ figures

•         Nordic Ski Val di Fiemme, FIS Nordic Summer Festival numbers (3 October 2025): https://www.fiemmeworldcup.com/en/news/news-list/extraordinary-numbers-for-the-fis-nordic-summer-festivaal-in-val-di-fiemme
•         Marcialonga 2026 participants, volunteers and school project, as reported by L’Adige: https://www.ladige.it/territori/fiemme-fassa/marcialonga-entra-in-classe-coinvolti-oltre-2500-studenti-di-fiemme-e-fassa-lsg4v962
•         Marcialonga Running Coop 2026, La Piazza Web: https://www.lapiazzaweb.it/news/attualita/768124/marcialonga-running-coop-quasi-2-mila-al-via-tra-fiemme-e-fassa.html
•         Marcialonga 54th edition and Nordic Ski season presentation, Zarabaza (28 October 2026): https://www.zarabaza.it/2026/10/28/le-valli-di-fiemme-e-fassa-sfilano-a-milano-che-stagione-per-marcialonga-e-nordic-ski/
•         Nordic Ski Val di Fiemme, Tour de Ski 2026 preview (35 nations, 296 cross-country athletes planned for the Games): https://www.fiemmeworldcup.com/it/news/archivio-news/la-val-di-fiemme-scalda-i-motori-tour-de-ski-2026
•         Nordic Ski Val di Fiemme, Tesero tracks as Olympic test event at the Tour de Ski: https://www.fiemmeworldcup.com/en/news/news-list/VAL-DI-FIEMME-WITH-HIS-20TH-TOUR-DE-SKI
•         Infront Italia figures on the Final Climb (4.6 million German viewers, shares up to 50 per cent), from the 28 October season presentation press release, Fondoitalia: https://www.fondoitalia.it/2026/10/28/sci-nordico-le-valli-di-fiemme-e-fassa-si-preparano-a-un-inverno-intenso-fra-coppa-del-mondo-e-tour-de-ski/
•         Tour de Ski in Val di Fiemme: https://www.dolomiti.it/it/val-di-fiemme/eventi/final-climb-fis-tour-de-ski and https://www.dolomitisuperski.com/it/esperienze/eventi/Val-di-Fiemme/2026/Tour-de-Ski-Coppa-del-Mondo

Press reports of tourism board, operator and local figures (not ISPAT data)

•         L’Adige, summer 2026 data from APT Fiemme e Cembra (14 October 2026): https://www.ladige.it/territori/fiemme-fassa/val-di-fiemme-dopo-le-olimpiadi-cresce-il-turismo-camere-piu-care-del-13-e-arrivi-in-aumento-t4j4qbbg
•         il Dolomiti, lift passages during the Games and compensation request (26 February 2026): https://www.ildolomiti.it/montagna/2026/olimpiadi-calano-le-presenze-sulle-piste-da-sci-in-val-di-fiemme-e-il-trentino-punta-ai-ristori-questione-comune-a-livigno-e-altre-sedi-faremo-presente-al-governo
•         il Dolomiti, winter 2025/26 arrivals and presences by valley (30 July 2026): https://www.ildolomiti.it/montagna/2026/turismo-il-miglior-inverno-del-decennio-ma-la-val-di-fiemme-frena-e-cala-per-le-olimpiadi-la-redditivita-e-stata-piu-alta-e-ce-linvestimento-nella-visibilita
•         il Dolomiti, Tesero federal centre agreement (17 September 2026): https://www.ildolomiti.it/montagna/2026/dopo-le-olimpiadi-lo-stadio-di-tesero-e-centro-federale-accordo-di-20-anni-il-rilancio-della-disciplina-parte-dalla-val-di-fiemme-attrattivi-anche-allestero
•         il Dolomiti, Predazzo jumps after the Games: https://www.ildolomiti.it/montagna/2026/trampolino-olimpico-di-predazzo-il-salto-e-un-traino-in-val-di-fiemme-arrivano-anche-dal-canada-per-allenarsi-quasi-800-i-turisti-che-hanno-visitato-le-strutture
•         il Dolomiti, Tesero ski school (17 December 2025): https://www.ildolomiti.it/montagna/2025/ospita-le-olimpiadi-ma-a-tesero-inverno-quasi-cancellato-e-non-ce-piu-una-scuola-de-godenz-ora-si-paga-un-po-di-pegno-ma-saremo-allavanguardia-per-20-anni
•         il Dolomiti, Nordic combined and the 2030 Games (July 2026): https://www.ildolomiti.it/sport/2026/combinata-nordica-fuori-dalle-olimpiadi-2030-la-val-di-fiemme-insorge-traditi-la-storia-dello-sci-e-il-nostro-impegno-per-realizzare-i-trampolini
•         GuidaViaggi, Val di Fiemme wellness and longevity strategy (24 September 2026): https://www.guidaviaggi.it/2026/09/24/val-di-fiemme-la-longevita-diventa-strategia-per-lincoming/
•         Corriere dell’Economia, Predazzo jumps inauguration and 44 million euro cost (14 July 2025): https://www.corrieredelleconomia.it/2025/07/14/inaugurati-i-nuovi-trampolini-di-predazzo-per-le-olimpiadi-2026/
•         Fondoitalia, year-round use of the Predazzo jumps (8 July 2025): https://www.fondoitalia.it/2025/07/08/val-di-fiemme-quasi-ultimati-i-lavori-a-predazzo-lunedi-14-il-primo-salto-sui-nuovi-trampolini-olimpici/
•         Mountain Wilderness Italia, editorial on Olympic spending: https://www.mountainwilderness.it/editoriale/villaggio-olimpico-di-predazzo-gettati-al-vento-53-milioni-di-euro/
•         il Dolomiti, Alpe Cermis season result (-7% presences), Fugatti on 300 million euro of works, foundation deficit (27 April 2026): https://www.ildolomiti.it/montagna/2026/in-rosso-le-funivie-un-segno-meno-dettato-dalle-olimpiadi-poi-un-recupero-ma-non-e-bastato-confidiamo-nella-visibilita-dei-giochi
•         il Fatto Quotidiano, Court of Auditors of Trentino on the Province’s 79.6 million euro joint liability (1 July 2026): https://www.ilfattoquotidiano.it/2026/07/01/olimpiadi-milano-cortina-corte-conti-trentino-notizie/8435290/
•         ANSA, Unimpresa study, 800 million euro for Trentino-Alto Adige, an estimate (4 February 2026): https://www.ansa.it/amp/sito/notizie/sport/speciali/milano_cortina_2026/2026/02/04/milano-cortina-2-studio-unimpresa-impatto-da-61-miliardi_3535e187-ad53-4707-a9b1-8324f3184e43.html
•         Euronews Italia, S&P Global Ratings on the Games’ long-term impact (11 February 2026): https://it.euronews.com/business/2026/02/11/milano-cortina-2026-quale-impatto-economico-avranno-le-olimpiadi-invernali
•         Marketing del Territorio, Marcialonga economic impact from a university thesis (old estimate, surveys 2010-2013): https://marketingdelterritorio.info/index.php/it/dal-territorio/1740-marcialonga-la-tesi-di-laurea-calcola-l-impatto-economico-da-8-milioni
•         Skinews, Marcialonga 9 million euro and 50,000 overnight stays from the same thesis, as cited by the organisers (8 November 2019): https://www.skinews.it/2019/11/08/marcialonga-e-montura-a-braccetto-con-le-amministrazioni-di-fiemme-e-fassa/