The organization of the group stage and final games of the European Basketball Championship ("EuroBasket 2025") in Riga this year brought an additional 52.3 million euros to the Latvian economy, it was reported on Tuesday at a meeting of the sports subcommittee of the parliamentary commission on education, culture, and science.
A study conducted using an internationally recognized methodology showed a direct economic impact of "EuroBasket 2025" amounting to nearly 83 million euros, with an indirect impact of an additional 51.5 million euros.
The organization of the competitions, as well as the draw and the General Assembly of the International Basketball Federation (FIBA), cost 18.3 million euros, of which nearly 10 million was co-financed from the state budget. Approximately 15.5 million euros returned directly to the state budget in the form of taxes paid.
Overall, the organization of "EuroBasket 2025" brought an additional 52.3 million euros to the country's economy: every euro invested from the budget attracted 5.3 euros to the economy, according to the report on economic impact.
"EuroBasket 2025" took place in Riga from August 27 to September 14. In the first stage - the group tournament - teams from six countries participated until September 3, and 12 more teams joined the four best teams from the Riga group in the final stage. The champions were the German national basketball team, who defeated the Turkish team in the final match, while the bronze medals were won by the Greek team. 195,101 spectators attended 31 matches, including the presidents of Germany, Finland, and Georgia, as well as the Prime Minister of Estonia.
The economic impact of foreign guests is estimated at 59 million euros, while local guests contributed 12.4 million euros. Visitors who stayed in Riga for several days spent an average of 1,103 euros.
The organization of "EuroBasket 2025" was also supported by the Riga municipality and various enterprises.
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