Pandemic takes 371 million euros from sport's contribution to Portuguese GDP

Pandemic takes 371 million euros from sport's contribution to Portuguese GDP

A study by the European Commission (EC) on the economic impact of covid-19 on the sport sector in the 28 Member States in 2020 points, in the Portuguese case, to a reduction of 371 million euros in the contribution to national GDP.

“All Member States (with the exception of the Czech Republic) will see the contribution of sport to national GDP reduced by at least 10%. For Portugal, the forecasts point to direct losses of 371 million euros, corresponding to 14.9% ”, according to the document, which is available on the internet portal of the Olympic Committee of Portugal (COP).

In the Brussels report, done together with the European Union (EU) Member States with the aim of helping to mitigate the consequences of the pandemic in the sector, the short-term economic impacts were analyzed, on the one hand, and on the other, the initiatives and measures implemented.

"The data collected came to confirm that the sport sector will be severely affected during the year 2020, and that the negative effects increase the more restrictive the imposed measures", the study reads.

The data in this work were calculated for the scenario closest to what the restrictions rules are at this moment, and estimate that in 2020, in Europe at 28, there is a decrease of 15.7%, that is, 56.930 million euros, of the contribution to GDP, and 17% in the number of workers in the sector.

The report highlights that, within the EU, each country suffers according to the scale of its economy and the sports sector, with the impact in Portugal (14.9%) being slightly below the Community average (15.7%). %).

The measures implemented were also analyzed by the EC, concluding that financial and fiscal support was one of the most used measures across Europe, but that their implementation differs between Member States.

“In the short term, it is suggested that sports organizations be coordinated so that all have access to the opportunities offered at national and European level. In the long term, the EC intends to create plans for the sector that are transversal to all members ”, concludes the study.

The covid-19 pandemic caused at least 1,482,240 deaths resulting from more than 63.8 million cases of infection worldwide, according to a report made by the French agency AFP.

In Portugal, 4,645 people died from 303,846 confirmed cases of infection, according to the most recent bulletin from the Directorate-General for Health.

The disease is transmitted by a new coronavirus detected in late December 2019 in Wuhan, a city in central China.

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