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HomeinterviewsEuros 2024 Cost UK Businesses Over $3 Billion in Lost Productivity

Euros 2024 Cost UK Businesses Over $3 Billion in Lost Productivity

When major football tournaments like the UEFA European Championship kick off, England celebrates in the only way they know how—by enthusiastic drinking. This year, as the Euros 2024 unfolded, England fans had more reasons than ever to raise their glasses. The national team made it all the way to the final, playing every available game in the tournament. While the excitement and camaraderie were palpable, the financial repercussions for UK businesses were significant.

What exactly happened?

According to a study by NetVoucherCodes, hangovers from Euro 2024 matches cost UK businesses a staggering $3 billion in lost productivity. The numbers paint a vivid picture of how sports and productivity often collide.

NetVoucherCodes calculated the daily productivity loss of an average worker by analyzing the average employee’s wage per day in the UK, which stands at £139.29 based on recent ONS figures. With productivity said to decrease by 24.9% on a hangover, according to the National Library of Medicine, hungover workers waste approximately £34.68 of business money each day.

Considering that 35.4 million Brits tuned in to watch the Euros and factoring in the percentage of working-aged, employed adults who drink at least once a week, the study concluded that nearly 11.8 million Brits were likely hungover at work following an England match. Multiplying the productivity loss per drinking viewer (£34.68) by the number of drinking viewers (11.8 million) revealed that hangovers from the Euros cost UK businesses £409 million for each match that England played. With six matches preceding workdays, the total productivity loss soared to £2.4 billion.

Has it happened before?

This phenomenon is not new. Previous World Cups and other major sporting events have shown similar impacts on employee productivity. When England’s football team is on the field, the nation’s productivity often takes a hit as fans celebrate and then struggle through the following workday.

The relationship between sports and productivity is complex. On the one hand, major sporting events boost national morale and bring people together. On the other hand, they can lead to significant productivity losses, especially when games coincide with workdays. Companies are beginning to acknowledge this and adopt creative solutions to mitigate the impact.

Rebecca Bebbington, Finance expert at NetVoucherCodes, commented on the findings, highlighting the dual passions of the UK for football and drinking. She emphasized the importance of moderation, noting the risks of turning up to work with alcohol in the system, both for productivity and personal health.

Could a proactive approach help?

Steve Barnes, Founder of NetVoucherCodes, took a proactive approach by giving his staff a late start the morning after England games. He recognized the unique nature of the event and the excitement it generated, believing that the gesture would boost morale and be repaid by employees catching up on their work later.

As Euros 2024 wraps up, the lessons for businesses are clear. Acknowledging the impact of major sporting events on productivity and adopting flexible strategies can help maintain both employee well-being and business efficiency. As the nation looks forward to future tournaments, balancing celebration with responsibility will be key.