UK to get £1bn Euro 2004 boost
Euro 2004, which kicks off tomorrow, is set to boost the UK economy to the tune of £1bn - this could climb even higher if the England team progresses beyond the group phase and reaches the final.
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Businesses from advertisers to off-licences are set to enjoy increased sales thanks to the football tournament.
A report from the Centre for Economics and Business Research says £425m will be spent on televisions and other electrical equipment, while pubs and bars will see a £116m boost to their revenues for each England game – so the more games they play, the greater the money which will be spent toasting the team’s success.
There are also expected to be surges in money spent on travel, while advertising agencies will see £164m spent to advertise products and services to those watching the tournament.
Yesterday, Accountancy Age’s Big Question survey revealed that a third of finance directors would be making special arrangement to allow staff to watch games during the tournament.
England kick-off their campaign against France on Sunday.
