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May 31, 2016

Portugal: Major Sporting Events Had a 100 Million Euro Impact on Lisbon

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A study led by the business school INDEG-ISCTE shows that in 2014/2015 sporting events had an economic impact of 100 million euros on Lisbon

volvo ocean raceThe study analyzed 17 big and medium events, that happened between September 2014 and August 2015, including Volvo Ocean Race, Lisbon Open of Snooker and Mini-Marathon EDP. For hotels, the impact was 9.01 million euros and for restaurants 7.2 million. 11.6 millions was spent on shopping, and 5.6 millions in tickets for the events. 

“It's a very interesting kind of tourism for the city because usually the participant brings the family”, says Pedro Dionísio, from ISCTE. “There is still a big growth potential”, underlines Dionísio. 

Lisbon has officially presented its candidacy for European Capital of Sport for 2021. The Portuguese capital is the first candidate for this award currently obtained by Prague 2016. The next European Capitals of Sport will be: Marseille 2017, Sofia 2018, Budapest 2019 and Malaga 2020. The winner for 2021 will be announced in August 2017.

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