Economic Impact of Euro 2024

With this year’s Euros underway, we thought we’d stay on theme and look at the impact the tournament has on our economy!

Men’s UEFA Euro 2024 Spending Report

VoucherCodes.co.uk has partnered with GlobalData to produce the Men’s UEFA Euro 2024 Spending Report. Let’s have a look at some of their predictions…

They expect that 14.4 million Brits will watch at least one match at a pub, bar or restaurant, which would act as a 115% increase from the 2022 World Cup, which saw only 6.7 million go to these venues to watch a match.

Their report predicts that Euro 2024 will provide a £2.75 billion boost to the UK economy, a rise from the £2 billion boost received from the 2022 World Cup. Although the World Cup had 13 more matches, the Euros are held in summer with favourable kick off times, making it easier and more enjoyable for people to get together to watch the tournament.

“We’ve seen how the weather can help to support sales as this is usually the peak time for BBQs and parties. If brands can capitalise on this with the right product offering, this will definitely help to leverage sales” – Senior Business Unit Controller of Tactical Solutions, Lance Preston

£2.1 billion is predicted to be spent over the course of the tournament, making up the majority of the expected economic boost. The majority of viewers (30.7 million) will be watching matches from their home, or from their friends or families’, so lots of spending will be on food and drinks (£1.4 billion). Spending will also come in the form of BBQs and BBQ accessories, TVs and TV accessories, garden furniture, and sportswear and merchandise, such as bunting and flags.

Impact on Germany

The report predicted that 400,000 British football fans will visit Germany, the country hosting this year, to watch a match during the tournament. This is expected to rise as England progresses through the competition, with German authorities preparing for 500,000 to 800,000 Brits to travel over.

There are 2.7 million tickets available for the 4-week tournament, with matches being hosted in Berlin, Munich, Cologne, Dortmund, Duesseldorf, Frankfurt, Gelsenkirchen, Hamburg, Leipzeg, and Stuttgart

“It could well be that 2024 will be a new record year for tourism in Germany – also thanks to the many enthusiastic football fans who want to experience this event live”Norbert Kunz, Managing Director of the German Tourism Association

However, Michael Groemling of the German Economic Institute has argued that:

 “The experience of the World Cup in 2006 shows that major sporting events are not economic fireworks […] consumer spending is not necessarily increasing but rather shifting.”

In 2032, it will be the turn of the UK and Ireland to host, with games to be held in the following stadiums:

  • London – Wembley
  • London – Tottenham Hotspur Stadium
  • Cardiff – National Stadium of Wales
  • Manchester – Etihad Stadium
  • Liverpool – Everton Stadium
  • Newcastle – St James’ Park
  • Birmingham – Villa Park
  • Glasgow – Hampden Park
  • Dublin – Dublin arena
  • Belfast – Casement Park

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