Europe
The 2006 World Cup was adjudged a success comparable to that of the 1994 US World Cup. The German government reported that tourism revenue over the month of the World Cup was up roughly 400 million dollars. They made about 3 billion more dollars in retail such as jerseys and other paraphernalia regarding the Cup. Lastly, a reported 50,000 new jobs were yielded in preparation for the tournament. This impact sends ripples through an economy. Restaurants and bars were full to capacity at all hours of the tournament, and 15 million more spectators arrived in Germany than was expected.
This success drew attention to the German professional league, the Bundesliga. As a result, sales of tickets and team paraphernalia have increased drastically. Many global corporations witnessed the craze in Germany during the world cup and in recognizing the countries passion for the sport they have begun to sponsor many more German teams than prior to 2006. The global viewing of Bundesliga games has increased as well, helping these sponsors and German telecasters the profits they were expecting.
The 2006 World Cup had an operating budget (for staging the event, not inclusive of capital infrastructure costs) of €430 million. The German Football Association announced a profit before tax of €135 million. After tax and repaying the FIFA contribution of €40.8 million - the net profit was €56.6 million which was distributed to the German Football Association (DFB) and the German Football League (DFL).
For Germany 2006 that the host country was entitled to the gross receipts of all ticket sales. In October 2007 FIFA announced : "FIFA has reassumed responsibility for ticket sales and will establish a company named '2010 FIFA World Cup Ticketing Ltd' to this end.".
Read more about this topic: Economics Of The FIFA World Cup
Famous quotes containing the word europe:
“The city is recruited from the country. In the year 1805, it is said, every legitimate monarch in Europe was imbecile. The city would have died out, rotted, and exploded, long ago, but that it was reinforced from the fields. It is only country which came to town day before yesterday, that is city and court today.”
—Ralph Waldo Emerson (1803–1882)
“The heritage of the American Revolution is forgotten, and the American government, for better and for worse, has entered into the heritage of Europe as though it were its patrimony—unaware, alas, of the fact that Europe’s declining power was preceded and accompanied by political bankruptcy, the bankruptcy of the nation-state and its concept of sovereignty.”
—Hannah Arendt (1906–1975)
“Of one thing I can assure you with comparative certainty, whoever wins, Europe will be economically ruined. This war is America’s great opportunity.”
—John Dos Passos (1896–1970)