UEFA EURO 2024 to boost German economic growth by 0.1 pct
(VOVWORLD) - The UEFA EURO 2024 football championship is expected to bring an additional 1 billion euros (1.07 billion U.S. dollars) towards the German economy from visiting fans.
 UEFA EURO 2024 to boost German economic growth by 0.1 pct |
Around 600,000 additional international tourists are foreseen to visit Germany for the event, leading to 1.5 million extra overnight stays during the tournament, which will boost sales in the country's hospitality industry.
The expected sales contributed by foreign football fans are expected to boost German economic output by around 0.1 percent in the second quarter, although service exports after the end of the EURO 2024 will fall back to normal levels in the third quarter.
Hotels and restaurants in the cities hosting the tournament are confident for improved businesses during the event, with almost one in two of them hoping for positive results from the football championship, according to a survey by the German Hotel and Restaurant Association (DEHOGA).