Euro 2016 elimination to cost Dutch economy tens of millions

The next big loser after Oranje was eliminated from the European Championships in France next year, losing 2-3 to the Czech Republic, will be major parts of the Dutch economy. Revenue losses for the supermarket/retail industry are estimated to be as much as 50 million euros. Travel and hospitality are also expecting a decline in sales as they cannot longer offer holiday package for the Championship, reported Z24.nl. Statistics Netherlands (CBS) have also reported a growth in television vendor sales over the 2004-2012 period of summer football, by an average of 15 percent. Joop Holla of marketing research company GfK, pointed out the additional setback of the football tournaments extended duration (June 10 - July 10). He added, “That with the 24 participating countries, the positive economic impact would have been much greater, especially if Oranje continued long into the tournament” Good news came from Sports marketer Frank van den Wall Bake, announcing that Dutch bank ING and apparel sponsor Nike would remain with Oranje until the World Cup in Russia in 2018. Van den Wall Bake also brought to the attention some direct consequences for income with players missing out on the opportunity to boost their transfer value, and gaps left in joint advertising campaigns. “Fortunately, we have the Olympics Games in Rio next year. That is where sporting and commercial can make a lot of money for the Netherlands .” van den Wall Bake added.