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EuroBasket 2025: Cyprus in a playmaker position with multi-million-euro ‘score’

Cyprus is already playing a role in the biggest sporting event ever held in the country, with the third group of FIBA ​​EuroBasket 2025 being hosted in Limassol from 28 August to 4 September 2025, estimated to bring benefits of over €12 million to the island’s wider economy.

Big names and top national teams of European basketball, including Greece with its popular stars, will be in the country, with more than seven to ten thousand foreign visitors from the five countries - apart from Cyprus - participating in the group expected on the island. It is also estimated that a total of approximately 70,000-80,000 fans will watch the games at the Spyros Kyprianou Athletic Centre.

Beyond its enormous importance as an event, this happening also upgrades Cyprus’ position on the pan-European map of sports and European basketball in particular and is anticipated to bring about successive and multiple economic benefits.

The multiple economic benefits

These financial benefits, as well as the obligations of Cyprus as an organising country, result from a relevant study carried out by EY on behalf of the Cyprus Basketball Federation (CBF) and which was presented to the government in 2021.

As mentioned above, the contribution of the event to the local economy is estimated at more than €12 million, resulting from accommodation, catering, transportation, retail, as well as from sectors such as entertainment, health, etc.

In this regard, it is estimated that the hospitality and catering industries will benefit by 44% from the financial contribution of the event, while retail (shops, car rentals, etc.) by 16%.

The hospitality sector‘s role

In particular with regard to the hospitality sector, during the period in which the event will take place, i.e. the last days of August and the first week of September, the occupancy of beds in Limassol is usually around 80%.

Thus, the remaining 20% ​​which in real numbers corresponds to approximately four thousand beds, is expected to be covered due to the EuroBasket, while at the same time airbnb accommodation will also be overbooked.

In addition, due to the large number of visitors, additional beds will be required to cover their accommodation needs from the other cities, beyond Limassol, which of course does not negatively concern the fans who will come from abroad, given the very short distances on the island.

As it becomes clear, from the descent of the thousands of foreign fans, but also from the organization in general, not only the economy and businesses of Limassol, where the games will be held, will benefit, but the economy and the business ecosystem of the whole of Cyprus.

Cyprus’ branding around the world

The event, in addition to the direct financial benefit it will bring to the country, will at the same time act as an extremely powerful booster for the branding of Cyprus worldwide, leaving a legacy for the future.

It is indicative that according to a study by FIBA, the immediately preceding event, i.e. the FIBA ​​EuroBasket 2022 held in Milan, Prague, Tbilisi, Cologne and Berlin, improved the image of each city as a tourist destination for foreign visitors by 64%.

Characteristically, in 2022, 40% of foreign visitors to the host cities were under 30 years of age, while 72% of fans came from abroad.

A total of 238 thousand visitors were found in the host cities in 2022, with foreign visitors spending €58 per person-per-day in Milan and €71 per person-per-day in Prague.

The 2022 event brought a total economic benefit of €227 million for all cities and €39 million in terms of media impact for the cities. For example, Milan had an economic impact of €40 million and Tbilisi €21 million.

(Source: InBusinessNews)

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