For a month, from 14 June to 14 July, football fans had their eyes riveted on the ten major German cities where the 2024 European Football Championship matches took place: Berlin, Cologne, Munich, Frankfurt, Hamburg, Dortmund, Leipzig, Gelsenkirchen, Stuttgart and Düsseldorf. Around 600,000 foreign tourists flocked to the Vaterland to watch the matches in the stadiums. Although the economic impact appears to have been significant at first glance, let's take a look at how much of the pie the hotel and tourism sector actually got.
A boost for the German economy?
According to a study by the ifo Institute, the tournament is expected to bring in an additional €1 billion to the German economy, equivalent to around 0.1% of gross domestic product (GDP) for the second quarter of 2024. This increase is mainly due to higher tourism revenues, with an estimated 600,000 additional foreign tourists and 1.5 million additional overnight stays during the event period (ifo Institute, 2024). However, these effects are considered temporary. Forecasts indicate that the profits generated by tourism will decrease in the third quarter of 2024, returning to normal levels after the end of the tournament (ifo Institute, 2024).
Asian travellers, big football fans...
According to Trip.com data, the tournament led to a significant rise in bookings from Asian tourists in Germany, with an increase of 125% on previous years. Bookings from China in particular rose by 132%. The main destinations in Germany are Frankfurt, Munich and Cologne, with Frankfurt standing out for the highest volume of bookings. This trend is largely attributed to the growth of the middle class in Asia, which has disposable income for travel and sporting events. Asian travellers are spending around 340% more than UK consumers to attend Euro 2024, and show a marked preference for 4 and 5 star hotels (Trip.com, 2024).
Tourism on the rise in host towns!
According to an article in the AHGZ media, German host cities such as Berlin, Stuttgart, Frankfurt, Cologne and Dortmund have seen a marked upturn in tourism. According to the German Tourism Association, these cities are reporting an increase in hotel bookings, a growing influx of daily visitors, and a rise in restaurant sales.
- Stuttgart: Armin Dellnitz of Stuttgart-Marketing GmbH reports strong demand for hotels, particularly for the match on 19 June. The influx of visitors...
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