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June 2, 2014

Portugal: UEFA Champions League Final Has Economic Impact in Lisbon

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Lisbon witnessed an authentic Madrid invasion on Champions League final weekend (24th and 25th May). For the first time in its history, two teams from the same city competed for the coveted title, Real Madrid and Atletico Madrid. A study by IPAM - The Marketing School shows that the event’s economic impact in the city was of about EUR 45 million. However, the Portuguese economy will only invoice 11 percent of the total volume of the generated revenues, reveals the same study. "Between expenses on catering, travel, ticket sales, advertising, security, merchandising and television rights, from the preparation to the aftermath, the Champions final has registered an overall economic impact of €409.8 million," it reads.

Hotels profit the most

Hotels in the Portuguese capital have held the biggest benefits in this impressive event. According to the study of IPAM, 54 percent of the impact generated by this sports final comes from overnight stays in the city. Restaurants have absorbed nearly a quarter (22 percent) of EUR 46.3 million of revenue generated in Lisbon only. Tourism activities have obtained 7 percent of revenues.

Lisbon airport with its hands full

This massive event effects were particularly noticeable at Lisbon airport, but also in other national airports. "In total, 7500 will be processed more passengers will be processed on charter flights and 2800 on private flights, adding more than 10 000 passengers to Lisbon airport, which represents an increase of 20% when compared to the usual number of passengers during this period", revealed ANA Aeroportos , infrastructure manager company, before the event.

Parallel activities cheer local suppliers

The event's sponsors rose to the occasion and organized a series of parallel activities, mainly in the Terreiro do Paço fan zone. It was an opportunity for both the Portuguese event agencies and the suppliers to show their work capacity. DMCs were also very busy with the numerous groups that were in Lisbon on the event’s account.

The final itself was attended by 250 organization members and 500 volunteers.

Global audience

The total number of broadcast television viewers has already been revealed, reaching a total of 380 million in 200 countries. Several technical resources were mobilized for the transmission. This involved 33 cameras, including a "Spidercam" (remotely controlled). There were also 550 journalists and 200 photojournalists accredited.

Lisbon used to hosting finals

The Portuguese capital is used to hosting large sports events. Ten years ago, Estádio da Luz welcomed the UEFA Euro 2004 championship final, held in Portugal. But the first big competition with epilogue in Lisbon was the UEFA European Cup final. The event took place on 25th May 1967, between Celtic and Inter Milan, and victory smiled at the Glasgow team. In 1991, Portugal won at home, at Estádio da Luz, UEFA’s Under 20 World Championship, which confronted the Portuguese team with Brazil. A year later, it was time for UEFA’s Cup Winners Cup final to head to Estádio da Luz, where Werder Bremen defeated Monaco, winning its first and only major European trophy. In 2005, also in Lisbon, Estádio de Alvalade would be the stage for UEFA Cup final. CSKA Moscow defeated Sporting Portugal at the time.

Photos courtesy ©Sportsfile.

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