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4:34 am - Tuesday November 12, 2019

The Economic Impact of Euro 2008 and a Generic Illustration for Global Sports Events

| Economics | Rating: 4.5
by Numan

Global sports events have a tremendous economic impact on both the hosting countries and the rest of the world. Euro 2008 as a test case.

A picture of the beautiful Innsbruck Stadium against the Austrian Alps
American’s are probably less aware of the grand football tournament taking place in the European continent these days. Euro 2008 is co-hosted by Switzerland and Austria and is considered to be the second most important football tournament in the world and is the third most-watched global sporting event after the summer Olympics and the world cup (football as well).
The Euro, or European soccer championship, takes place every 4 years (like the world cup and the summer Olympics) and lasts three weeks. Europe’s 16 top national football teams will be competing in 19 games for the cup.
UEFA (Union of European Football Association) expects over 1 billion people will view the matches on TV and internet traffic and interest is expected to reach over 100 million visitors.

It’s very interesting to observe the economic impact of such global or continental events. The Euro’s impact extends far greater than the hosting countries themselves and is carried, much like a wave, into all of Europe and the world. The upcoming Olympics in Beijing will undoubtedly leave, and has already left, a significant economic mark on China and the world.

A graphic illustration of the economic impact of global sports events

The following is my attempt at a graphic illustration of the impact of global sporting events:

Austria and Switzerland will be hosting these games and will benefit most of incoming tourism, broadcasting rights, merchandizing, commercial revenues and more. Another economic boost comes in the form of temporary jobs and investments in infrastructure much more obvious in Beijing.

Weighing the numbers each tournament and qualification’s match suddenly seems that much more important. A country that fails to qualify to the Euro will obviously lose a major and significant share of the potential economic gain.

Women are not left out

A very interesting study done for MasterCard estimates women spending and commerce revolving around the tournament at 140 Mil. Euros (Approx. $210 Mil). These spending are entirely football related. That’s around 10% of the total economic impact of the entire tournament.

Traditionally a men’s sport football seems to have slowly, yet surely, found its way to women’s hearts as well. The festive atmosphere in and around the stadium’s as well as the high maintenance level and comfort level of the facilities attract more families and women to the matches.

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