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ABSTRACT In June 2004, Portugal organised the final phase of the European Football Championship, the Union of European Football Associations—(UEFA-EURO) 2004™. Algarve was one of the four hosting regions, organising three matches including the quarter finals. The bid for the final-phase organisation was politically controversial at the regional level, with arguments revolving around destination-image projection and economic benefits of tourism, particularly with respect to the accommodation industry. Considering the possible advantages that such an event has on the economy, this paper defines the role and typology of the UEFA-EURO 2004™ event and quantitatively assesses its economic impact on the accommodation industry. Using official data from the Portuguese National Institute of Statistics, the current findings show that the price effect partly explains the net decrease in overnight stays during the event, leading to an almost nil result for a short term—impact analysis. Future research developments related to medium—and long-term analysis are necessary to assess the material benefits for other industries and markets, in addition to evaluating the immaterial gains associated with destination image.
Perna et al. (Tue,) studied this question.