Switzerland stands to gain from EURO 2008

Switzerland stands to gain additional revenue than believed before – between EUR 700 and 800 million from the UEFA EURO 2008 competition.

A 2004 estimate had half the updated total. But the success of public viewing areas during Germany's World Cup could prove to be a boon for the Swiss.

A study by social and economic research company Rütter + Partner predicts that up to 5.4 million foreign spectators will flock to Switzerland to watch matches in the stadiums and public viewing areas. The study suggests that foreign visitors will account for between EUR 100 million and 140 million in spending.

The hotel and tourism industries, construction businesses, food and beverage industries, advertising, media and culture will benefit from the tournament. National and local governments will see an increase in tax revenues.

The study also claims that federal and cantonal governments in Switzerland will be able to refinance their investments.

With a value-added impact on the economy amounting to between EUR 400 million and 500 million, the championship will be the biggest sporting event ever in Switzerland. The expectation is that it will create between 5,290 and 7,350 jobs.

Source: euFootball.BIZ © Copyright 2006 - All rights reserved.