PRN: Eurovision Song Contest: A Burden for Host Countries or Commercial Boon?
Eurovision Song Contest: A Burden for Host Countries or Commercial Boon?
LONDON, May 25, 2012 /PRNewswire/ --
The Eurovision Song Contest could provide a greater economic boost to host nations than previously thought, traffic statistics on BusinessesForSale.com have revealed.
Countries hosting the event always enjoy a huge spike in traffic fuelled by people looking to move abroad and a buy a business. And yes, that even includes Azerbaijan.
Last year traffic for businesses for sale based in Germany, which hosted the competition after their 2010 triumph, rose by 26%. In 2010 traffic soared by two-thirds (66.66%) for business opportunities based in Norway, the 2009 winners. And in 2009, when Moscow hosted the event, traffic climbed by 61.2% on the Russian domain.
Last year's hosts, Germany, had plenty to offer overseas investors. Europe's healthiest economyÂ is renowned for its 'Mittelstand' (small to medium businesses'), in particular for its manufacturing prowess. BusinessesForSale.com currently has a €3m mechanical engineering company and a €2.9m manufacturer of medical devices on the site, among others.
Montenegro and Andorra have previously withdrawn from the contest over the excessive cost - it cost the Norwegian state broadcaster 211m Kroner (Â£23m) to host in 2010 - as did Hungary at the IMF's behest, while in 2010 Hamburg couldn't meet the financial criteria for hosting the event. Ireland's greatest comedy export, Father Ted, even ran an episode where the eponymous priest and his sidekick, Father Dougal, were chosen to represent Ireland on the grounds that 'My Lovely Horse' had no chance of winning, thus excusing the country of the obligation of hosting the event.
However, an event long dismissed by some as a kitsch cabaret might now be taken more seriously in the UK, whose entry this year is performed by Engelbert Humperdinck. It also gives small, peripheral nations the chance to raise their profile at a time when the reputations of many of Europe's traditional powerhouses are tarnished by the debt crisis.
BusinessesForSale.com Managing Director Jeremy Mandell says: "I was struck by the magnitude of the spike in traffic for business opportunities among Eurovision host nations. If the Eurovision has this impact, just think what the Olympics and Diamond Jubilee could do for generating inward investment in the UK.
"And with international investors reluctant to invest in large European nations like Spain, Italy and Greece, there's already a great opportunity for the likes of Azerbaijan to attract more inward investment."