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Euro 2024 is responsible for a €1bn boost to Germany, with an influx of visitors seeing increased spend at tourism-related businesses
Tom Anstey | Planet Attractions | 17 Jun 2024
Euro 2024 is generating around €1bn in Germany thanks to football tourism Credit: UEFA
Football fans have descended on Germany for the Euro 2024 international football tournament, with the influx of foreign visitors expected to generate around €1bn (US$1.1bn, £845m) for the country.
According to the Ifo Institute, football tourism linked to the tournament will boost Germany’s economic output by around 0.1 percent in the second quarter.
“At the beginning of the 2006 World Cup in Germany, arrivals and overnight stays by foreign guests rose respectively by 25 percent,” said researcher Gerome Wolf of the Ifo Institute.
“If we take that as a basis for the 2024 European Championship, we can expect more than an additional 600,000 foreign tourists and 1.5 million additional overnight stays during the championship.”
While the tournament is having a rather small effect on Germany overall, it is having a significant impact on tourism-related businesses, such as hotels, attractions, restaurants and more.
“From a macroeconomic perspective, this type of major event tends to have a rather minor impact, with the exception of tourism,” said Wolf.
“Although domestic consumers will also briefly spend more in the hospitality and food retail sectors during the championship, they will reduce their spending elsewhere, so that private consumption as a whole will likely remain unaffected. That is at least what experience from the 2006 World Cup suggests.”
Euro 2024 is taking place across 10 stadiums in Germany, with the tournament kicking off on June 14 and running through to the final on July 14.
Tourism
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