{"id":1569,"date":"2024-06-17T08:20:40","date_gmt":"2024-06-17T07:20:40","guid":{"rendered":"https:\/\/www.redstareducation.co.uk\/blog\/?p=1569"},"modified":"2024-06-25T16:48:12","modified_gmt":"2024-06-25T15:48:12","slug":"economic-impact-of-euro-2024","status":"publish","type":"post","link":"https:\/\/www.redstareducation.co.uk\/blog\/economic-impact-of-euro-2024\/","title":{"rendered":"Economic Impact of Euro 2024"},"content":{"rendered":"<p style=\"font-weight: 400;\">With this year&#8217;s Euros underway, we thought we\u2019d stay on theme and look at the impact the tournament has on our economy!<\/p>\n<h2 style=\"font-weight: 400;\">Men\u2019s UEFA Euro 2024 Spending Report<\/h2>\n<p style=\"font-weight: 400;\">VoucherCodes.co.uk has partnered with GlobalData to produce the <a href=\"https:\/\/www.vouchercodes.co.uk\/savings-guides\/guides-reports\/mens-uefa-euro-2024-spending-report\">Men\u2019s UEFA Euro 2024 Spending Report.<\/a> Let\u2019s have a look at some of their predictions\u2026<\/p>\n<p style=\"font-weight: 400;\">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.<\/p>\n<p style=\"font-weight: 400;\">Their report predicts that Euro 2024 will provide a \u00a32.75 billion boost to the UK economy, a rise from the \u00a32 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.<\/p>\n<blockquote>\n<p style=\"font-weight: 400;\"><em><strong>\u201cWe\u2019ve 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\u201d <\/strong>&#8211; Senior Business Unit Controller of Tactical Solutions,<a href=\"https:\/\/www.tactical-solutions.co.uk\/how-brands-can-use-football-economics-ahead-of-the-euros-2024\/\"> Lance Preston<\/a><\/em><\/p>\n<\/blockquote>\n<p style=\"font-weight: 400;\">\u00a32.1 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\u2019, so lots of spending will be on food and drinks (\u00a31.4 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.<\/p>\n<h2 style=\"font-weight: 400;\">Impact on Germany<\/h2>\n<p style=\"font-weight: 400;\">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.<\/p>\n<p style=\"font-weight: 400;\">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<\/p>\n<blockquote>\n<p style=\"font-weight: 400;\"><strong><em>\u201cIt could well be that 2024 will be a new record year for tourism in Germany \u2013 also thanks to the many enthusiastic football fans who want to experience this event live\u201d<\/em><\/strong><em> \u2013 <a href=\"https:\/\/www.reuters.com\/sports\/soccer\/how-hosting-euro-2024-could-impact-german-economy-2024-05-14\/\">Norbert Kunz<\/a>, Managing Director of the German Tourism Association<\/em><\/p>\n<\/blockquote>\n<p style=\"font-weight: 400;\">However, <a href=\"https:\/\/www.reuters.com\/sports\/soccer\/how-hosting-euro-2024-could-impact-german-economy-2024-05-14\/\">Michael Groemling<\/a> of the German Economic Institute has argued that:<\/p>\n<blockquote>\n<p style=\"font-weight: 400;\">\u00a0<strong><em>\u201cThe experience of the World Cup in 2006 shows that major sporting events are not economic fireworks [\u2026] consumer spending is not necessarily increasing but rather shifting.\u201d<\/em><\/strong><\/p>\n<\/blockquote>\n<p style=\"font-weight: 400;\">In 2032, it will be the turn of the UK and Ireland to host, with games to be held in the following stadiums:<\/p>\n<ul>\n<li style=\"font-weight: 400;\">London \u2013 Wembley<\/li>\n<li style=\"font-weight: 400;\">London \u2013 Tottenham Hotspur Stadium<\/li>\n<li style=\"font-weight: 400;\">Cardiff \u2013 National Stadium of Wales<\/li>\n<li style=\"font-weight: 400;\">Manchester \u2013 Etihad Stadium<\/li>\n<li style=\"font-weight: 400;\">Liverpool \u2013 Everton Stadium<\/li>\n<li style=\"font-weight: 400;\">Newcastle \u2013 St James\u2019 Park<\/li>\n<li style=\"font-weight: 400;\">Birmingham \u2013 Villa Park<\/li>\n<li style=\"font-weight: 400;\">Glasgow \u2013 Hampden Park<\/li>\n<li style=\"font-weight: 400;\">Dublin \u2013 Dublin arena<\/li>\n<li style=\"font-weight: 400;\">Belfast \u2013 Casement Park<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>With this year&#8217;s Euros underway, we thought we\u2019d stay on theme and look at the impact the tournament has on our economy! Men\u2019s UEFA Euro 2024 Spending Report VoucherCodes.co.uk has partnered with GlobalData to produce the Men\u2019s UEFA Euro 2024 Spending Report. Let\u2019s have a look at some of their predictions\u2026 They expect that 14.4 [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":1570,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0},"categories":[1089],"tags":[1068,1067,1075,304,1066,314,1076,1072,1069,1071,1070,1065,1077,1073,1074],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Economic Impact of Euro 2024 - Red Star Education Blog<\/title>\n<meta name=\"description\" content=\"With this year&#039;s Euros underway, we thought we\u2019d stay on theme and look at the impact the tournament has on our economy!\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.redstareducation.co.uk\/blog\/economic-impact-of-euro-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Economic Impact of Euro 2024 - 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