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Tuesday, 9 October, 2001, 13:51 GMT 14:51 UK
'500m boost' from Euro 2008
Scotland's National Stadium
Hampden Stadium could be one of the Euro 2008 venues
Staging the Euro 2008 football tournament in Scotland could give the UK economy a 500m boost, according to a new report.

The study, by economic consultants, examined the potential financial, sporting and cultural benefits of hosting the championships.

Their report suggests the Scottish economy would benefit from an extra 450m spent on travel, accommodation and related leisure expenditure during the tournament.

It also suggests an extra 50m would be generated in UK Government revenues through taxes, national insurance and VAT.

Consultants from DTZ Pieda carried out the research on behalf of the team behind Scotland's bid to host the tournament.

Henry McLeish
Henry McLeish used to be a footballer

The study team estimated that 375,000 extra tourists would visit Scotland and the UK because of the competition, and that the worldwide television audience would be in the region of 500m people.

The analysis is based on the "optimum scenario" of a six-stadia bid.

Scottish First Minister Henry McLeish said: "We are determined to build for the future in terms of economic prosperity.

"There may well be difficult times ahead with a global downturn in tourism and foreign travel because of the current world climate.

"This makes it all the more important to look to the longer term and adopt a confident and ambitious outlook.

"Hosting Euro 2008 would bring much enjoyment and satisfaction to Scotland and what this report shows is that it would also bring huge economic benefits."

Decision to be made

Scotland's bid for the championship kicked off in May this year with support from politicians and football chiefs.

The Scottish Football Association and the Scottish Executive outlined plans to look into the best ways for Scotland to mount a bid to host the tournament.

Officials said a number of areas had to be addressed before the country could beat off joint bids from countries including Austria and Switzerland, and Greece and Turkey, as well as a Scandinavian challenge.

A Euro 2008 bid team has been put together to identify the benefits of hosting the competition and to consider the criteria set down by the organisers.

A decision on whether to submit a formal bid will be made once all these issues have been considered, probably next February.

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 ON THIS STORY
Business correspondent Hayley Millar reports
"They came up with the figures by using estimates from previous tournaments"
See also:

02 Sep 01 | Scotland
Euro 2008 attracts McLeish's support
16 May 01 | Scotland
Scots discuss Euro 2008 bid
19 Jul 00 | Scotland
Scotland receive Euro 2008 boost
05 Jun 00 | Football
No plans for Scots Euro bid
19 Jul 00 | Scotland
Hampden capacity cut
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