Following its successful qualification, the Dutch soccer team can brace itself for the European Soccer Championships in Poland and Ukraine. The group matches against Denmark, Portugal and Germany will be watched minute by minute by a great many Dutchmen. The European Championships will prove a noticeable event, not only from the angle of the noble sport of soccer but also economically. For instance, during championships, consumers spend more money on certain goods, such as television sets, soft drinks and beer. Moreover, employees tend to take more days off, whereas others are more easily tempted to report sick.
Depressed trade during matches
Stock markets, too, are unable to escape from the effects of soccer. Thus, during the World Cup matches in South Africa, investors traded much less intensively. Chart 1 presents an overview of the stock markets of fourteen countries which took part in the tournament in the summer of 2010. During the matches played by the Dutch team in South Africa, trading in the 25 stocks included in the Amsterdam AEX index dropped by about 30%. The number of transactions was 29% lower than expected, while overall nearly 34% fewer stocks were traded. And the Netherlands is by no means unique in this respect.
South America in top position
In other European countries, such as England, Germany and France, stock market trading was also much thinner during World Cup matches. On the German stock market, the number or trades was even almost 60% lower, but that was not enough to gain the top position. The largest drops were recorded in South America. On the Brazilian stock market, the number of trades was 65% lower, and in Argentina this was even as much as almost 70%. In Chile, trading virtually came to a standstill during matches. Surprisingly, even in the United States, a country where soccer is certainly not the national sport, trading dropped sharply during matches.
