13 January 2017

It is profitable to be a host

Numbers which published French sports ministry on Tuesday shows that the general revenue at the EURO 2016 was 1.22 billion euros in regards to expenses which were less than 200 million. An additional 160 million euros has been spent on the construction and renovation of sports facilities while remaining costs were from private investors and the organizer of the tournament (UEFA). These digits were collected from CDES (The centre of law and economics of sport) in Limoges, together with the marketing company Keneo.
The study shows that average visitor at the European championship was spending 154 euros on daily basis, most of it on accommodation and food, while income from tourism reached 625.8 million euros. UEFA has spent around 360 million euros, all 24 teams boosted the French economy with 34.9 million, journalists and others gave 34.8 million and the sponsors 22.6 million euros.
A year ago, CDES estimated that the additional spending related to the European football championship on 1.266 billion euros, or 0.1% of French GDP. However, there was lots of controversy due to the planned public spending, months before the show started. Among other things people across the country were angry, especially for 24 million euros allocated for increased security measures, which was double more than expected.


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