By Humberto Viera
24 Jul 2024, 12:42 PM EDT
Euro 2024, held in Germany, did not have the positive economic impact that was expected on the country’s hospitality industry. According to the German Hotel and Restaurant Association (DEHOGA), reported by EFE, 88% of establishments did not experience any significant profit during the event.
Only 8.1% of hoteliers surveyed by the organisation said they had experienced a “positive boost” as a result of the football event.
However, in host cities such as Berlin and Hamburg, more than 17% of hospitality businesses reported an increase in their revenue. In addition, pubs, bars and beer gardens recorded a 32.1% increase in their turnover.
The president of the institution, Guido Zöllick, said in a statement reported by EFE that “the atmosphere of celebration was somewhat dampened, especially by the changing weather and the elimination of our team in the quarter-finals.”
“Our companies have presented themselves as great hosts with creative offers for football fans from all over Europe. The European Championship is undoubtedly an important source of inspiration for strengthening tourism in Germany,” he added.
Despite some positive points, the overall outlook for the German hospitality industry remains difficult. Hoteliers and restaurateurs recorded a 10.9% drop in nominal turnover in the first half of the year compared to the same period in 2023. Profits have fallen even more sharply, with a 22.2% decline in the first six months of the year.
The losses in sales and profits are particularly noticeable in hostels, restaurants, clubs and discos. According to the president of DEHOGA, “the results of the current survey illustrate that the situation in the hotel sector remains very tense.”
While Euro 2024 has not been the economic boost the German hospitality industry had hoped for, it has served as a platform to showcase the country’s ability to host large-scale sporting events.
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