Euro 2008 Expected To Generate $2.15 Billion Economic Impact On Participating Nations

Vienna, Austria (AHN) - The three-week Euro 2008 soccer championship is expected to generate over $2.15 billion among participating nations, including co-hosts Switzerland and Austria.

The European soccer finals is the third most watched sporting event in the world, next to the Summer Olympic Games and the World Cup Finals. It gathers the continent's top 16 national soccer teams.

According to Union of European Football Associations estimates, its TV audience would likely go beyond one billion viewers, while its website expects over 100 million hits, which is four times over that visitor visits logged in the website when it was held in Portugal in 2004.

Simon Chadwick, director of the Birkbeck Sport Business Center at the University of London said the expected $2.15 billion income the regional soccer championship could generate includes tourism income for Austria and Switzerland, TV licensing deals and higher food and beverage sales.

Switzerland expects to rake in $358 million, while Austria would likely earn $369 million from the sport event, which runs June 7 to 29.

The megabucks, aside from consumer spending, would also come from corporate sponsorship of the events by leading global brands such as Coca Cola, McDonald's and Adidas. Their promo activities are expected to range from the high-tech through website advertising to the more common promotional items.