Germany eyes boost in tourism revenue during UEFA Euro 2024

BERLIN

Germany hopes to boost its tourism revenue as it will host the UEFA European Football Championship this year.

The 17th UEFA Euro championship, Europe’s most important football event, will be held in Germany between June 14 and July 14 in 10 different German cities, which is anticipated to bring many economic benefits to the country.

Around 3 million fans will visit the 10 German host cities for Euro 2024, where they will spend on food and drinking, as well as accommodation.

The cities hosting the sports events are Munich, Dortmund, Dusseldorf, Frankfurt, Gelsenkirchen, Hamburg, Leipzig, Stuttgart, Cologne, and Berlin.

Opportunity to revive tourism

Reinhard Meyer, the president of the German Tourism Association, told Anadolu that the Euro 2024 is more than a major sports event; it is also an opportunity for Germany as a hospitable travel destination to revive its tourism.

Jürgenn Amann, managing director of KolnTourismus, stated that they expect the event to have a positive economic impact on the hotel and retail sectors, as well as Germany’s image.

The German Retail Federation estimates €3.8 billion ($4 billion) in additional sales during the event.

Macroeconomic effect

The Euro 2024 championship is not expected to contribute to the growth momentum of the German economy, according to an analysis by the Halle Institute for Economic Research.

It stated that the German economy did not grow after the 2006 FIFA World Cup, and this year’s UEFA Euro event is estimated to have a similar effect.

The analysis noted that approximately 650,000 soccer fans from abroad are expected to attend the event, while other tourists will avoid the tournament due to high hotel costs.

UEFA benefits most from Euro 2024

UEFA has so far benefited most from the tournament while German host cities will see the outcome of their spending for Euro 2024.

The UEFA expects over $1 billion in revenues from ticket sales, broadcasting rights, and tax exemptions.

Some 2.7 million tickets are on sale for 51 matches for Euro 2024, with prices starting from around $30 for the group stage matches, and around $1,000 for the final.

*Writing by Emir Yildirim in Istanbul