Euro 2016 to give area £33.5m kick

Football games will boost economy

LEICESTERSHIRE’S local economy could be boosted by as much as £33.5 million during this summer’s Euro 2016 football championships, according to new figures.

Football fans across the region are predicted to drink £839,000 worth of beer during the course of the tournament.

While those who fancy a flutter will gamble nearly £7 million on the outcome of games.

The figures come from the East Midlands Chamber which has analysed national data which predicts the UK economy will benefit by up to £2.5 billion in additional consumer spending - a similar level to that seen during the 2014 World Cup.

There is a downside, however.

A separate study found Leicestershire could take a £2.8 million hit as a result of lost productivity when England play Wales at 2pm on Thursday, as employees “throw a sickie”, take the afternoon off or spend working time browsing news and social media sites to keep tabs on the score.

Lucy Robinson, the chamber’s director of resources, said: “We know many people in the East Midlands are fanatical about football and this is set to translate into an economic boost for the region as fans shell out on the latest gadgets, merchandise and food and drink in preparation for and during the tournament.

“However, businesses may need to apply a bit of common sense if they have staff who want to watch the big games, to avoid a spike in unauthorised absence and the problems come with it.

“A little flexibility on both sides, such as allowing staff to watch the games and then make up any lost working time at a later date, would go a long way to resolving any such issues.”

The East Midlands economy could be boosted by as much as £147 million during the competition, figures show. that