According to a study carried out by Portugal’s finance ministry, the injection of fans into the country from around Europe for the competition would add just 0.08 percent to its gross domestic product in 2004.
The increase in visitors would plough EUR112m into the local economy, the report said.
However, Portugal will experience the true benefit of hosting the event over many years as a result of the intense publicity given to the country during the tournament.
Countries hosting major events benefit from the huge TV exposure of the event and the focus on its host nation, with most seeing a steady rise in tourism figures over subsequent years.
The report estimates the event attracted around 211,000 extra visitors during the event.
Meanwhile, the final member of Europe’s Big 4 soccer markets crashed out of Euro 2004 last night.
England lost to hosts Portugal on penalties in the quarter-final stage to follow Germany, Italy and Spain out of the competition.
France play Greece this evening.
