The German Retail Federation estimates an increase in revenue of 4 billion USD and 3 million visitors to the 10 host cities of Euro.
Reinhard Meyer, President of the German Tourism Association, said Euro 2024 is not only a major sporting event but also an opportunity for Germany to restore tourism.
Jürgenn Amann, CEO of KolnTourismus (Koln City Tourism Board), expects the event to have a positive economic impact on the hotel and retail sectors as well as Germany’s friendly destination image. Germany plans to welcome 3 million visitors to the 10 host cities of Euro 2024 and they will spend heavily on food, rest, and entertainment. The country’s retail federation estimates an increase in revenue of 3.8 billion Euros (4 billion USD) during the event.
Fans of the German and Scottish teams take souvenir photos at Euro 2024. Photo: Reuters
Statistics from China’s leading online travel group Trip.com show that bookings to Germany from Asian visitors increased by 125% compared to pre-Euro times. Chinese guests lead the bookings, followed by Japan, Korea and Southeast Asia. The cities of Frankfurt, Munich and Cologne are the destinations most booked by Asian tourists.
Although the German tourism industry is expected to grow, revenue from tourism on this occasion is considered “will not contribute significantly to the country’s economy”, according to analysis by the Halle Institute of Economic Research. The German economy did not grow after the 2006 World Cup and this year’s Euro event is also forecast to be similar.
Analysis shows that around 650,000 international football fans want to visit Germany for the Euros, but other tourists will avoid the tournament due to high hotel costs. Average room prices in the 10 host cities increased by 57% compared to the months before and after the Euro.
Tourists gather in the fan area before the Poland – Netherlands match, Hamburg, Germany on June 16. Image: Reuters
The 17th European Football Championship (UEFA Euro), the most important football event on the continent, takes place in Germany from June 14 to July 14. The 10 host cities are Munich, Dortmund, Dusseldorf, Frankfurt, Gelsenkirchen, Hamburg, Leipzig, Stuttgart, Cologne and Berlin. UEFA, the Euro organizer, is said to benefit the most from the tournament with expected revenue of more than 1 billion USD from ticket sales and broadcasting rights.