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≡ INTEL REPORT ≡
“[T]he economic impact of UEFA EURO 2024 for Germany and the ten host cities amounts to €7.44bn.
“More than 90% of this sum, was the direct result of expenditure by the 2.7 million ticket holders (44% from abroad), organisers and accredited persons as well as the resulting indirect and induced economic effects. The most significant expenses included accommodation, travel to and within the host cities, and food and beverages outside and inside the stadiums.”
In a nutshell, that’s the economic impact summary of the UEFA Euro 24 tournament in Germany, held from 14 June to 14 July, with 24 teams and 51 matches in 10 venues in 10 cities.
UEFA’s announcement was based on a commissioned study by Nielsen Sports, and translates to about $8.30 billion U.S. and was better than expected. German Interior Minister Nancy Faeser explained:
“I’m very pleased at the study’s findings: an economic impact of 7.4 billion euros in Germany exceeds expectations for hosting the tournament in Germany. And I’m especially happy that the economic, social and media impact of the tournament is directly benefitting the host cities.”
The study showed:
● The total impact of €7.442 billion breaks down to 91% economic impact, 8% media impact – essentially the advertising value of the event to Germany – and 1% social impact, from people playing sports more and volunteering.
● As far as the economics, the direct economic delivery from the event was €2.063 billion in actual spending (~$2.30 billion U.S.), from ticket buyers (€711.3 million), the cost of organizing the event (€649.6 million), spending by accredited people (€237.5 million), €233.9 million from Fan Zone visitors for food & beverages, and €230.4 million from pub and at-home spending – watch parties – related to Euro 2024.
That means €4.649 billion worth of direct and indirect and inducted spending came directly from people attending the tournament, or 68% of the total, with the cost of organizing the tournament taking up the rest.
● Using a multiplier effect of 3.29x of direct spending for indirect and induced rounds of spending gets the total to €6.776 billion in “total economic impact.”
● Total attendance was stated as 2,664,731 with an average of 52,250 per match.
● Of the 1.711 million ticket buyers, 56% were from Germany (about 967,000): 23% from the host cities and 33% from elsewhere in the country.
● So, 44% of all ticket holders (about 745,000) came from outside the country (119 countries); the economic engine that drove the much of the direct spending on the event.
● While there were 2.7 million attendees, cumulative attendance at the various fan festivals was 6.2 million – more than twice as much – an important report on the impact of such programs today and into the future.
The largest number of visitors from outside Germany were from Britain (9.4% of all visitors), followed by the Netherlands (4.4%), Switzerland (4.0%), Austria (3.8%) and Romania (3.1%). The U.S. was next, at 2.5%.
These folks spent the majority of their money (beyond the tickets themselves) on accommodations, food, and travel to the tournament. The average stay for international visitors was 2 1/2 days.
The tournament had 13,247 volunteers helping with the organization of the event, valued in the study at €10.1 million.
There was a lot of interest in the tournament, with an estimated 5.4 billion cumulative audience on television and 4.5 billion video views on social media. But once again, the value in this mega-event was the spending by fans and especially by visitors to Germany for the tournament.
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