The European football championships next month will generate an extra €200m in exports for Dutch industry, ING economists calculate.
While in the Netherlands, cafes, supermarkets and electronics equipment shops will benefit from extra sales, other companies are supplying lighting, grass, technical services, transport and security gates to the Ukraine and Polish authorities, the ING report shows.
Electronics companies expect a 7% rise in sales while supermarkets forecast they will book some €10m extra because of the football. The hospitality industry in particular is hoping the Netherlands will progress beyond the group stage, which is when watching on big screens takes off.
Meanwhile, ABN Amro economists point out in their latest Soccernomics report, the most recent winners of both the European and World Cups (Greece, Italy and Spain) have all seen their credit-worthiness decline since their victories.
In what the Financieele Dagblad describes as a tongue-in-cheek report, ABN Amro economists ask if a winners’ mentality is more likely to develop in countries where the economy is performing less well. By contrast, in wealthy countries, do athletes become lazy and complacent?
They then debunk their own theory by pointing out three of the wealthiest European countries, Germany, the Netherlands and France, lead the European Cup performance rankings.
The ABN Amro economists say the eurozone will benefit most if France takes the title but judging by past performances, Germany is the most likely winner.
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