EURO 2012 – investments and new jobs

Preparations for EURO 2012 shall translate into over 100 thousand new jobs and more foreign investments, as suggested by a forecast made by the ministry of economy presented at today’s press conference. According to the Ministry in 2012 Poland will be visited by 21.4 mio. tourists.

EURO 2012 is related mainly to investments – in the construction of stadiums, in road, transport infrastucture and hotels. According to ministry’s forecasts, there will be an acceleration of the pace of gross outlays on fixed assets from 16.7% in 2006 to an average level of approx. 22-25% in the years 2008-2012.

Hosting of the championships will also accelerate the growth of domestic demand from approx. 6% in 2006 to an average level of approx. 7.5-8% in the years 2008-2012. Individual consumption is supposed to rise in that period by 6%. The ministry of economy prepared a draft act on public—private partnership, which is to facilitate implementation of infrastructural investments required for hosting of EURO 2012 in Poland.

The biggest benefits from hosting of EURO 2012 will be drawn by undertakings in the construction and tourism sector. Contractors and suppliers of building materials will also benefit. According to the ministry, during the event itself the biggest beneficiaries will be the hotel sector, food producers and retailers.

In the years 2007-2013 foreign investments are supposed to rise by at least EUR 3 billion against the average level of investments in the last three years. In the frames of preparations for the championships it is planned to construct approx. 900 km of motorways, at the cost amounting to approx EUR 6.5 billion, to modernize main railways routes (EUR 4.5 billion) and eight airports. Three new stadiums will be constructed while three another ones will be expanded.

Ministry’s estimates suggest that foreigners are going to spend in Poland about PLN 39.76 billion in 2012.

PAP, 10th May 2007