True cost of Euro 2008

NEITHER ENGLAND, Wales, Scotland, Northern Ireland nor Ireland qualified for the Euro 2008 finals this year. This has left bar owners across Europe predicting reduced earnings.

Usually, the World Cup and the Euro competitions are the best weeks of the year for bars in Portugal as both tourists and residents go there to watch their home teams compete.

Louise Boswell, a café owner in Carvoeiro, told The Resident: “These competitions are special because people who never step into a bar for an entire year will come in to watch their national team play.”

Economic experts have speculated that retail figures for flat screen TVs, fast food and beer will be reduced this year not only in the UK, but also across Europe in countries where there are many British expatriates like Portugal.

Compounding this problem is the loss of the “feel good factor” experienced by British fans during a tournament, which has been proven to increase work productivity and boost the economy.

Sellers of merchandising, football kits and advertising related to the competition are also expected to be hit by the early exit of the home nations.

Do you have a view on this story? Email: [email protected]