Euro windfall for Portugal

According to a study carried out for local financial daily Diario Economico, the trophy will have an economic impact of 609 million euros. According to the document, the team’s victory will lead to revenue from sectors including federations, publicity agencies, hospitality, restaurants, cleaning services, newspapers, television stations, sports brands and travel agencies among others, Xinhua reported. 

Portugal were crowned Champions on Sunday after beating home team France, with the breakthrough coming in the 109th minute thanks to striker Eder. Tens of thousands of fans continued to celebrate on the streets on Monday, with the football stars touring the city in an open-roofed bus. While the European title is good news for the Southern European country, it also comes as finance ministers in the Eurozone decide whether to apply a sanction to Portugal for missing its deficit target last year, which local politicians strongly oppose.