Much more money will be generated from the Euro 2008 than previously predicted. A study, conducted by social and economic research company Rütter + Partner, predicts that up to 5.4 million foreign spectators will flock to Switzerland to watch UEFA EURO 2008™ in the stadiums and public viewing areas. It anticipates that foreign visitors alone will spend a total of between €100m and €140m during their stay in the host country.
Sectors to gainAmong the sectors to directly benefit from the tournament, such as the core hotel and tourism industries, the construction business will profit along with food and drink, advertising, media and culture. Additionally, the state and local coffers will be swelled by an increase in tax revenues. The study also claims that the federal and cantonal governments in Switzerland will, by and large, be able to refinance their investments.
Biggest everAymo Brunetti, state secretary for the economy, explained that the economic potential of UEFA EURO 2008™ could not be underestimated and that there were many unquantifiable benefits to take into consideration, such as the boost to Switzerland's image. With a value-added impact on the economy amounting to between €400m and €500m, the championship will be by far the biggest sporting event ever in Switzerland. It is destined to create, both directly and indirectly, between 5,290 and 7,350 jobs.
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