After just over two weeks of winter sports competitions, the curtain falls on the Milan-Cortina 2026 Olympic Games, the world's first ever multi-venue Olympic Games. The closing ceremony took place at the Verona Arena, where, in front of 12,000 spectators, the European Olympic flag was handed over to the Organizing Committee of the French Alps, which will host the next edition of the Winter Games in 2030.

The stage depicts a drop of water, a symbol uniting the mountain Olympic venues with the Po Valley. The event features, among others, star of Milan's Teatro alla Scala, Roberto Bolle; singer-songwriter Achille Lauro; actress Benedetta Porcaroli; DJ Gabry Ponte; and the band Major Lazer. Among the dignitaries in attendance were Prime Minister Giorgia Meloni, Speaker of the Chamber of Deputies Lorenzo Fontana, Minister of Transport and Deputy Prime Minister Matteo Salvini , and Minister of Sport Andrea Abodi. However, US President Donald Trump was absent, having preferred to remain in Washington to address the tariff issue and escalating tensions with Iran. Also absent were French Prime Minister Emmanuel Macron (who did not even attend the opening ceremony at the San Siro Stadium) and Prime Minister Sébastien Lecornou, a sign that the distance between Rome and Paris, following the Deranque affair, is still wide.

The Italian flag bearers chosen by CONI are Lisa Vittozzi and Davide Ghiotto, who contributed to the record number of medals (30, with 10 gold, 6 silver and 14 bronze) for the Winter Games set by the Italian Team, surpassing the previous record set in Lillehammer in 1994.

Milan-Cortina was a record-breaking edition for Italy, and not just on the slopes. IOC President Kirsty Coventry herself emphasized that "these Games were a resounding success. We broke all records across TV and streaming, offering a new and sustainable way of doing things; we exceeded our own expectations. The Organizing Committee did a tremendous job, and Italy also achieved extraordinary results." CONI President Luciano Buonfiglio echoed this sentiment, calling it "an Olympics with distinction. With the Milan-Cortina Olympics, we too are contributing to enriching the history of our Republic." It is no coincidence that the Gold Olympic Order, the IOC's highest honor, was awarded to President Sergio Mattarella and Prime Minister Meloni.

To understand the economic impact—including direct, indirect, and induced impacts—we'll have to wait for the coming months, and for macroeconomic data between three and five years from now. However, Fondazione Milano Cortina president Giovanni Malagò has stated that the impact on the local area is estimated at around €5.3 billion, €500–€600 million in additional tax revenue, and 1.3 million tickets sold for the competitions. The baton now passes to the Paralympics, with the opening ceremony, again at the Verona Arena, taking place on March 6th.

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