BERLIN, June 27 (Xinhua) -- The German national team's match against South Korea at the World Cup in Russia could cost the German economy a three-digit million losses, according to a study published on Wednesday by the German Economic Institute (IW).
The match that will start today at 4 p.m. German local time will cause many Germans to shy away from work. The IW estimates that around 30 percent of the German work force will be affected, leading to economic losses of 130 to 200 million euros (151 to 232 million U.S. dollars).
The IW calculations are based on recent studies on economic losses caused by public holidays in Germany and are assuming that the missed work will not be caught up later.
Speaking to Xinhua, IW labor market expert Christoph Schroeder added that some "economic losses are offset by positive effects in specific industries such as gastronomy especially."
The researchers further emphasized that the experience of watching a match together, especially at the workplace, could also strengthen team spirit -- which in turn could have a positive effect on productivity.
"It's not always about money, but also about teambuilding -- and there's certainly nothing better than watching an exciting football match together with your colleagues," said IW labor market expert Christoph Schroeder.
