Gastronomy costs in venues have significantly increased
The football stadiums of the European Championship in Germany benefit from the influx of fans. The revenue increases in the hosting cities saw partial significant growths, as shown in a study by payment processor Mastercard. Dortmund, Duesseldorf, Cologne and Stuttgart recorded triple-digit growth rates.
In the Ruhr region metropolis Dortmund, restaurant, café or bar sales during the France vs Poland group stage game were even 283% higher than the previous year. In the three largest German cities Berlin, Hamburg and Munich, the revenue surges were much lower. In Hamburg, the gastronomy revenues were even below the previous year's level in some parts.
The European Football Championship began on June 14 and ends on July 14 with the final match between Spain and England in Berlin. Many economists and studies from economic research institutes have shown that such large-scale events hardly stimulate the economy as a whole, but certain industries may profit from the European Championship.
"The various stadiums attract large crowds and also stimulate the local economy because expenditures for gastronomy, tourism and entertainment rise," explained Natalia Lechmanova, Chief Economist for Europe at the Mastercard Economics Institute. Dortmund, Duesseldorf, Cologne and Stuttgart have illustrated this trend with their strong increases in restaurant sales. This shows "how such events can lead to positive economic impulses through the European Championship beyond the mere sports spectacle."
During the European Football Championship, venues in Play Cities like Dortmund witnessed significant revenue growth in gastronomy, with a remarkable 283% increase during France vs Poland's group stage game. The influx of fans for the Football-EM also contributed to venue sales boosts in other cities like Duesseldorf, Cologne, and Stuttgart, showcasing how such events can stimulate local economies through gastronomytaxis.
