Around 650,000 foreign fans are expected to attend this year’s Euro 2024 in Germany, newspapers in the Funke Media Group reported on Saturday, citing research by the Halle Institute for Economic Research (IWH).
This would result in additional tourism revenue worth €250 million ($271 million), the institute found.
Oliver Holtemöller of the IWH said he anticipates a “small economic plus” for Germany. “However, a major economic push is not to be expected from this.”
“Depending on how the tournament goes, a brighter social mood inspired by sporting success would be a plus for the economy, which is currently suffering from a rather negative mood,” he noted.
The German economy is struggling after slipping into recession last year, with the government expecting just 0.2% growth in 2024.