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24 August 2017
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Hosting Euro 2012 may cause 6-8 bln USD losses to Ukraine's economy: analyst

Kolpakov said that Ukraine`s gross domestic product (GDP) may fall after the Championship, because the economy will not receive adequate injections from tourism. After all, most tickets for the Championship were bought by the domestic fans...

The four-year buildup to the Euro 2012 Soccer Championship may cause somewhere between 6 billion and 8 billion U.S. dollars losses to Ukraine`s economy, said Ukrainian analyst here on Tuesday, according to Xinhua.

"Initially it was planned that private companies will be the main investors of Euro 2012, but now the state invested the major funds in the sports and infrastructure projects for the tournament," the head of the Kiev-Based analytical company "Da Vinci AG" Andriy Kolpakov said in an exclusive interview with Xinhua correspondent, while adding that some sport facilities for Euro 2012, such as the Olympic stadium in Kiev will not be repaid ever.

Kolpakov said that Ukraine`s gross domestic product (GDP) may fall after the Championship, because the economy will not receive adequate injections from tourism. After all, most tickets for the Championship were bought by the domestic fans.

Ukraine has budgeted nearly 16 billion dollars to construct the roads, stadiums, airports and other projects required to host European sport`s most-watched event, with about a billion viewers will cling to the TV screens and more than a million fans will visit the 2 countries hosting the tournament.

With the 5 months until the Euro 2012 Championship kicks off, work has been completed on all of Ukraine`s 4 stadiums slated to host games. Airports in four host cities Kiev, Donetsk, Kharkov and Lvov are being renovated.

The Euro 2012 European Soccer Tournament will be hosted by Ukraine and Poland between June 8 and July 1 next year.

Xinhua

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