Economic boost from Euro football final

Cổ động viên Đức cuồng nhiệt trước sân vận động Allianz Arena - Ảnh: REUTERS — German fans are enthusiastic in front of the Allianz Arena stadium - Photo: REUTERS

Right from the airport, I had the feeling that Germans seemed very proud to be the host country of a football tournament that attracts fans from all over the world.

Immigration was quick. As I stepped out of the airport, I immediately saw a support booth with four friendly and cheerful volunteers. I felt that the Euros had brought fresh energy to Germany with over 600,000 tourists expected to flock there.

This is an expected important shift for the German economy, as in 2023, according to a report by the International Monetary Fund (IMF), the host country of Euro 2024 is the only country in the G7 group that does not grow.

And in the days that followed, volunteers were everywhere in public places across Germany, ready to serve the fans. Germany was well prepared for this year's Euro. More than 2.7 million football tickets were sold.

In which, the final match ticket is about 4,000 euros, which is too expensive in my opinion and that of many fans. Too expensive but impossible not to buy.

According to the forecast of the IFO Economic Research Institute, Euro 2024 will contribute more than 1 billion euros to the German economy.

Germany is famous for its good beer, and this summer beer is the favorite drink of fans. Beer gardens - outdoor beer restaurants - are packed. The shirts may be different, but when they drink beer, they are all happy to raise their glasses to celebrate.

German breweries have had experience of a football tournament since the 2006 World Cup and they believe there will be a strong boost in business this Euro season.

Statistics show that when the 2006 World Cup was held in Germany, beer sales increased by about 5%. The increase in beer consumption is also a positive sign when the German beer industry experienced a difficult year in 2023, with sales falling 4.5% to 8.4 billion liters.

Fans packed the stands and restaurants and hotels. According to a survey by the German Hotel and Restaurant Association, nearly 50% of accommodation establishments expect to achieve positive business results with Euro 2024.

Hotel room prices in Germany have skyrocketed this summer. A small hotel room in Leipzig normally costs only 2 million VND/night, but recently I had to pay more than 7 million, 3.5 times more.

Around 1.5 million overnight stays will be made during the Euros, which will boost Germany's hotel industry. With 600,000 tourists coming to Germany, as well as domestic football fans, Germany's gross domestic product (GDP) is expected to increase by around 0.1% in the second quarter of 2024.

Germany has high expectations for this year's Euro. Successfully hosting Euro 2024 will help improve Germany's image, in a context where Germany is struggling with the country's socio-economic problems, including declining foreign direct investment in Germany.

I am impressed by Germany's care for fans by offering huge discounts on high-speed train tickets and free public transport in all cities.

The host country wants to create goodwill and attract tourists to Germany. The Euro is indeed a very suitable occasion to promote German tourism as well as economic development.

I support the German team and also see the possibility of the host country winning the Euro quite high. However, football is football, no matter what the result of the "German tank" is, the host country's economy will get an important boost thanks to Euro 2024.