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Euro 2008: The economic cost of non-qualification
I was listening to Radio 4 this morning, and the item that got the greatest attention in the sports news (alongside the Champions League final build up and the climax to the Scottish Premier League) was Ed Smith's (former cricketer) new book, What Sport Tells Us About Life. I mean no offence to Mr. Smith when I say this, but it must have been a quiet day in the world of sport yesterday. I mean, I'm sure it is a good book and all that...
Anyway, it got me thinking. Surely by now, if England had qualified for Euro 2008 we'd be gearing up for a major spree of flag waving and beer consumption, and if Scotland (when will we qualify again) and Northern Ireland had just managed to get through qualifying, then the frenzy would have been all the greater. (Sorry Wales, but as a half-Welsh Scot - and I don't often tell people about that - you were never in the running.)
So how much would have this have been worth? There's the beer sales in pubs and supermarkets, of course, and lots of naff little flags to stick in your car window, and the loss of revenue to bookies and travel providers, amongst many other businesses. Then there's TV and other forms of advertising. How much would advertisers have spent trying to get our attention during the tournament?
The Centre for Economic and Business Research put the economic cost of England's failure alone at around £1 billion. This is based only on comparisons with 2006 and 2004, and therefore does not consider the impact of not having Scotland and/r Northern Ireland at the tournament. Of course, Scotland's economy is a lot smaller than England's, and Northern Ireland's smaller still, but the prospect of multiple British teams playing in a tournament for the first time since 1998 surely would have had created more excitement, across the whole of the United Kingdom (well, maybe not Wales).
Then again, maybe it's worth it not to have to go through all of the references to 1966 over and over again....
Roll on the Olympics
Join the world's sport and exercise community today!
Anyway, it got me thinking. Surely by now, if England had qualified for Euro 2008 we'd be gearing up for a major spree of flag waving and beer consumption, and if Scotland (when will we qualify again) and Northern Ireland had just managed to get through qualifying, then the frenzy would have been all the greater. (Sorry Wales, but as a half-Welsh Scot - and I don't often tell people about that - you were never in the running.)So how much would have this have been worth? There's the beer sales in pubs and supermarkets, of course, and lots of naff little flags to stick in your car window, and the loss of revenue to bookies and travel providers, amongst many other businesses. Then there's TV and other forms of advertising. How much would advertisers have spent trying to get our attention during the tournament?
The Centre for Economic and Business Research put the economic cost of England's failure alone at around £1 billion. This is based only on comparisons with 2006 and 2004, and therefore does not consider the impact of not having Scotland and/r Northern Ireland at the tournament. Of course, Scotland's economy is a lot smaller than England's, and Northern Ireland's smaller still, but the prospect of multiple British teams playing in a tournament for the first time since 1998 surely would have had created more excitement, across the whole of the United Kingdom (well, maybe not Wales).
Then again, maybe it's worth it not to have to go through all of the references to 1966 over and over again....
Roll on the Olympics
Join the world's sport and exercise community today!
Tags:
advertising,
business,
competition,
consumption,
economic cost,
economy,
england,
euro 2008,
football,
northern ireland,
olympics,
revenue,
scotland,
soccer,
sport,
summer,
tournament,
wales
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