Back of the net! London licks its lips at £150m boost from Euros

·2-min read
<p>With Wembley hosting eight games, the month-long championship will unleash huge levels of “relief spending” </p> (REUTERS)

With Wembley hosting eight games, the month-long championship will unleash huge levels of “relief spending”

(REUTERS)

The Euros tournament is set to give the economy a £150 million boost as London pubs, bars and restaurants gear up for a summer football frenzy.

With Wembley hosting eight games and three home nations qualifying, the month-long championship will unleash huge levels of “relief spending” after more than a year of lockdowns, according to City forecasters.

Simon French, chief economist at brokers Panmure Gordon, said: “The Euros will add a further £150 million boost to the economy with key group and knockout fixtures taking place in the UK all adding to the sense of an economy — and society — heading back to normal.

“While this figure is very much dependent on the progress of the home nation teams, there is undoubtedly pent-up demand from the pandemic that a major sports event like the Euros can help unlock.”

Matches are being played at 11 grounds across Europe, including Glasgow’s Hampden Park. Wembley will host England’s three group games as well as the semi-finals and the final on July 11.

A separate study from sports data company pitchinvasion.net suggests that tourists and fans visiting London to attend matches will spend £23.8 million, more than any other host city, although this could have been far higher if Wembley was allowed to operate at its full capacity of 90,000 fans.

Only 22,500 will be allowed in for the early games although this will increase if distancing requirements are dropped on June 21 in accordance with the Government’s road map out of lockdown.

The tournament — delayed for a year by Covid — starts in Rome on Friday when Italy play Turkey.

Wales’s campaign begins the following day when they take on Switzerland, while England tackle Croatia next Sunday. Scotland’s debut is the following day against the Czech Republic. Thousands of pubs and bars are expected to show games, but Covid restrictions will limit the numbers of fans that can watch until at least June 21, as they have to be seated at booked tables.

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