Football championships: an economic and stock market booster?

Article by Simon Landt

51 exciting matches, a total of 117 goals and a new European champion from Spain - that's the balance sheet of this year's UEFA European Football Championship. Even though the summer fairytale did not quite work out for Germany and the German team had to admit defeat to the new European champions in the quarter-finals, there was a great atmosphere in the stadiums, at public viewings or when watching football in the living room at home. Irrespective of this, however, the question arises as to whether football events such as European or World Cups have a positive effect on economic growth in the home country - after all, thousands of fans flock to stadiums, restaurants and hotels. So do major sporting events trigger an economic boost and possibly promote a stock market rally?