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:
“In Europe art has to a large degree taken the place of religion. In America it seems rather to be science.”
—Johan Huizinga (1872–1945)
“riding flatcars to Fresno,
Across the whole country
Steep towns, flat towns, even New York,
And oceans and Europe & libraries & galleries
And the factories they make rubbers in”
—Gary Snyder (b. 1930)
“Should the German people lay down their arms, the Soviets ... would occupy all eastern and south-eastern Europe together with the greater part of the Reich. Over all this territory, which with the Soviet Union included, would be of enormous extent, an iron curtain would at once descend.”
—Joseph Goebbels (1897–1945)