The European Championship 2024 Host City Berlin Rakes in a Billion Euros in Profit
Berlin, a city known for its rich history and vibrant culture, has once again proven to be a powerhouse in the world of sports. The city generated an impressive urban surplus of 1.017 billion euros from hosting the UEFA European Football Championship (UEFA EURO 2024), significantly surpassing initial expectations of slightly over half a billion euros.
The Berlin Marathon, held for the 50th time last weekend, was not only a testament to endurance but also a significant contributor to Berlin's economy. With over 58,000 participants, it brought a value creation of up to 400 million euros. The Berlin Marathon opening ceremony, held in the Berlin Olympic Stadium, was a colorful spectacle that added to the city's charm.
The Berlin Olympic Stadium was also the venue for the DFB-Pokal finale, an annual event that generates around 50 million euros for the city. Modern event arenas in Berlin, such as the Olympic Stadium, contribute significantly to the city's image and recognition worldwide due to their nearly perfect organization and increasing number of participants.
Berlin, as the host of six games and the venue for the final, has achieved the highest value creation of all host cities, with over one billion euros. This is according to a preliminary analysis by the Federal Ministry of the Interior, which shows that all ten host cities achieved a total value creation of around seven billion euros.
The Berlin Senate and the German Olympic Sports Confederation aim to bid for the Olympic Games in 2040, with major sporting events serving as important arguments for their decision. The success of events like the UEFA EURO 2024 and the Berlin Marathon certainly strengthens their case.
In Berlin, a metropolis with one of the largest hotel capacities in Europe, fears that football tourists could displace other tourists have not been confirmed. The city's ability to accommodate both types of tourists is a testament to its robust tourism industry.
The term "urban surplus" is increasingly used in various policy areas to refer to the short- and long-term added value of public investments. In Berlin's case, the urban surplus from sports events is generated from hospitality, gastronomy, retail, image, and advertising values, and investments in urban infrastructure.
Concerns that the UEFA EURO 2024 could become a loss-making venture for the host cities have not been confirmed. In fact, Munich generated the highest urban revenue increase among the host cities, as indicated by Mastercard's SpendingPulse report showing significant gastronomy revenue growth there during the tournament.
The final evaluation of the tournament's financial impact is expected next year. In the meantime, images related to the Special Olympics, the DFB-Pokal finale, and the Berlin Marathon can be found on the website BERLIN. The title photo for this article is from our website BERLIN, taken by Björn Leffler.
The Berlin Senate invested 84 million euros in setting up fan zones, modernizing the Olympic Stadium, and funding cultural events. The city's commitment to providing an exceptional experience for both athletes and spectators is evident in these investments.
As the dust settles on the UEFA EURO 2024, Berlin can look back on a successful and profitable event. The city's ability to host large-scale events while generating significant economic benefits is a testament to its resilience and appeal.
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