Munich hosts the UEFA Champions League final on 31 May, with the event, pitting Paris Saint-Germain against Inter Milan, set to generate a significant economic uplift for the German city, according to a new study by Mastercard.
According to Mastercard, last year’s final between Real Madrid and Borussia Dortmund, which took place in London, led to foreign spend – largely from Spanish and German visitors – 67 times higher than normal.
In addition, last year’s Euro 2024 final in Berlin saw restaurant and bar sales within a three kilometre radius of the venue rise 130%, with foreign spend soaring 2,170% compared to a standard weekend.
Elsewhere, the 2023 Champions League final in Istanbul injected €106 million into the local economy, with fan spend 46% higher than the previous year.
‘Significant boost’
“In recent years, sporting events such as UEFA Champions League matches have significantly boosted the economies of their host regions, benefiting local businesses far beyond the stadiums,” commented Natalia Lechmanova, chief European economist at the Mastercard Economic Institute.
“As the experience economy continues to thrive across Europe, fans are prioritising travel and live events, creating lasting opportunities for local businesses in cities like Munich.”
Munich is no stranger to this kind of economic boost, with recent concerts by pop icons such as Adele and Taylor Swift leading to major spikes in local spending – Adele’s performances in August 2024 led to a 57% rise in hotel revenue, while Swift’s Eras Tour in July drove a 43% year-on-year increase in accommodation sales.
According to Mastercard’s The Experience Economy study, some 56% Europeans who have watched live football matches in recent years are happier when they can see their team live. In addition, half of respondents (51%) believe that watching football together brings people together and improves relationships with friends and family. Read more here.
