Madrid City Council estimates a direct economic return of at least 55 million euros for the final of the Copa Libertadores between Boca Juniors and River Plate, which will be held next Sunday at the Santiago Bernabeu stadium. The calculations that the Department of Economy handles, and to which had access, speak of a fork of between 20,000 and 40,000 visitors, with an expenditure that could shoot up, in the case of greater affluence, up to 107 million.
“A very moderate forecast would be the entry of 20,000 tourists, which would involve a total tourist spending of 52.6 million, which would have to add the rent of the stadium, totaling 55.1 million,” they explain from the area addressed by Jorge García Castaño. This expense includes disbursement for airline tickets, hotel rooms and leisure.
In its statistics, the Consistory adds the average cost of tourists from Latin America (140 euros per day) with air tickets between Madrid and Buenos Aires, which can cost up to more than 6,000 euros. 66% of these flights are operated by Iberia and Air Europa, so the City Council only counts that amount, considered “return to Madrid”.
The indirect impact generated by the retransmission of a sporting event with an expected audience of 200 million people worldwide is outside that estimate. Something similar to a Champions League final. The president of the Business Confederation of Madrid, Juan Pablo Lázaro, spoke last Tuesday of a global return of more than 42 million.
“This event will generate for Madrid, on the one hand, direct and indirect income for the trips that will take place to see the game, as well as induced income, as a result of which the party and the image of Madrid will be transmitted to all the world, “said Lazaro. It is expected that at least 30,000 fans will visit Madrid to watch the match.
Hotel occupancy will reach 95% in the city, with an average cost per tourist of 210 euros, according to the City Council. In some cases, the prices of the rooms are suffering remarkable increases up to more than twice the usual value in December or January.
The Business Association of hoteliers of Madrid down, however, that increase to 10% and 15% of daily rates. And it foresees that the occupation for next Sunday only reaches 56% of the rooms in the capital. The municipal government avoids adding in its estimates the income derived from the tickets to the soccer field. It will be, in fact, the organizers who obtain those benefits.
But it does count the cost of renting the stadium, which will amount to 2.5 million euros. Nor does it include the expense that the public administration must assume to guarantee security on a day when Madrid will become the capital of world football.