The 2024 Euros soccer championship is set to take place in Germany in a month’s time, with the country eagerly anticipating both sports success and a boost in consumption. The tournament is expected to attract domestic and foreign visitors to hosting cities such as Berlin, Munich, Cologne, Dortmund, Duesseldorf, Frankfurt, Gelsenkirchen, Hamburg, Leipzig, and Stuttgart. This influx of visitors is predicted to increase business for hotels, rented rooms, and breweries.
Norbert Kunz, Managing Director of the German Tourism Association, believes that the excitement surrounding the tournament could lead to a new record year for tourism in Germany. Football fans who want to experience the event live are expected to contribute significantly to this boost in tourism. Similarly, Holger Eichele of the German Brewers Association anticipates an increase in beer consumption during the tournament following the trend seen during the 2006 World Cup hosted by Germany.
However, Michael Groemling of the German Economic Institute warns that major sporting events like the Euros may not necessarily result in a significant economic impact. While consumers may be inclined to make purchases like new televisions or consume more beer during the tournament, the overall economic impact may not be as significant as expected. Nonetheless, hosting the tournament is still expected to bring in additional revenue and create a positive buzz around Germany as a tourist destination.
