The Euro 2024 football tournament is expected to bring Germany an additional €1 billion from foreign visitors coming to watch the competition, which starts Friday night, a new study showed.
That will boost the country’s economic output by around 0.1 percent in the second quarter, according to the study conducted by the Ifo Institute in Munich.
“At the beginning of the 2006 World Cup in Germany, arrivals and overnight stays by foreign guests rose respectively by 25 percent,” Gerome Wolf, a researcher of the Ifo Institute, said in a statement. “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,” he said.
“However, the effect will only be short-lived, meaning that service exports due to tourists returning home after the end of the Euro 2024 are likely to fall again in the third quarter and, on balance, remain the same,” according to the study.
The European football championship — which Germany has won three times — will take place across 10 stadiums in the country from the Olympiastadion Berlin to the Volksparkstadion in Hamburg.
Germany will play in the opening match against Scotland at the Munich Football Arena Friday evening.
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