The 2024 European Football Championship is taking place in Germany this year and is attracting soccer fans from all over the world. This major sporting event will also have a significant economic impact. Prof. Dr. Timo Zimmermann, Head of the Master M.A. Strategic Sports Management, shed light on the diverse economic effects of the European Championships in an interview with ARD.

He emphasized the importance of the so-called multiplier effect, as he had already observed during the 2006 World Cup in Germany: "In the economy, you can cite the so-called multiplier effect. This means that we have expenditure for the event on the part of the state, the federal government, the cities, the guests who come to our country. Of course, this expenditure also generates revenue, turnover. These trigger employment effects, which are then reinvested so that such a spiral develops."
In times of economic uncertainty, Prof. Dr. Zimmermann also emphasizes the psychological effects that such major events can have: "Especially in times of sluggish consumption, uncertainty and risk aversion, a European Championship like this can show us what a spirit of optimism can look like. It shows us how to pull together and revive tradition and values."

You can find the entire discussion round here: Link 

The current European Football Championships and the economic dynamics involved offer vivid examples of how sporting events can act as catalysts for economic and social developments.
Anyone interested in the interface between sport and business will find the Master's in Strategic Sports Management an excellent opportunity to prepare for a career in this exciting field. You can find more information about the course and the wide range of career opportunities on our website.