Hosting the European Football Championship 2012 will be profitable for Ukraine, the chairman of the State Tax Service of Ukraine (STSU) Oleksandr Klymenko said, ForUm correspondent reports.

The head of the STSU emphasized that the hosting such tournaments as Euro 2012 increases the state's GDP by about 1%.

"According to preliminary data, we see the increase in profits and the positive economic performance," he said.

According to Klymenko, a major benefit for Ukraine is that many people will open the country for themselves.

"The most important tax Ukraine exempts today is a positive impression of guests of our country. This tax is an intangible, but is pretty large," he concluded.

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