Europa Press
La Jornada Newspaper
Wednesday, June 26, 2024, p. a12
Madrid. The Euro Cup could have an economic impact of up to €2 billion in revenue for host Germany, according to a Freedom24 report.
Thus, the German country is expected to grow this year around 0.3 percent, slower than other large industrialized countries, but Euro 2024 could provide a short-term boost for sectors related to tourism and services.
The report attributes this boost to several reasons, such as the increase in the number of visitors, which represents an increase in demand for hotels, restaurants and transportation (trains, buses and taxis), as well as the growth in the sale of sports products.
On the other hand, the organisation of tournaments of the magnitude of the European Championships involves the construction of sports facilities, hotels and public infrastructure, which stimulates the construction sector. It also increases the demand for event management, security and logistics companies, as well as short-term rental housing.
The sale of tickets for national team soccer matches is a source of direct income, in addition to earnings from advertising and sponsorship.
The previous edition, held in various European cities, the income derived from the tournament reached 1,882 million euros.
The latest trends, in turn, confirm that the winner of the contest can boost the stock market in his country. The winners Greece (2004) and Spain (2008 2012) managed to surpass the index that includes the prices of the main companies of the old continent.
On the other side of the continent, in the United States, on the other hand, a spill of up to 600 million dollars is estimated as a result of the Copa América. According to Shine Entertainment, a global sports marketing consulting agency, it projects that around 2 and a half million people travel to US soil.
2024-06-26 10:30:42
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