EURO 2004 could benefit the UK economy to the tune of more than '1bn, according to a new report.

The study says everyone from advertisers to off-licences will enjoy increased sales thanks to the tournament in Portugal.

Shoppers in the UK will spend around '435m during May and June on new televisions and other electrical equipment to enjoy the games, plus merchandise such as England flags and replica football shirts, according to the Centre for Economics and Business Research.

The report's authors believe pubs, clubs and off-licences will enjoy a '116m boost for each of England's three group stage games.

The massive boost to UK businesses is in contrast to the World Cup in Japan and Korea two years ago.

The early kick-off for matches meant fans watching during normal working hours which resulted in a "negative" impact on the UK economy. Tweet