Article 4EZ8A Liverpool and Spurs fans learn a hard lesson in basic economics | Larry Elliott

Liverpool and Spurs fans learn a hard lesson in basic economics | Larry Elliott

by
Larry Elliott
from Economics | The Guardian on (#4EZ8A)

Despite all the talk of supporters being gouged over travel costs, this is the way markets work

For supporters of Liverpool, Spurs, Arsenal and Chelsea it has been quite a week. First they had the joy of seeing their teams get through to the finals of Europe’s two cup competitions: the only time there has been a clean sweep by English clubs. After the euphoria, though, came a hard lesson in basic economics.

As the final whistle blew at Anfield, following Liverpool’s amazing comeback against Barcelona, anyone logging on to airline websites found the price of a ticket to Madrid – where the final of the Champions League will be held – had rocketed to more than £700 on the weekend of the match. When Spurs scored a last-minute winner against Ajax to join Liverpool in the final, prices rose again and not just for direct flights to Madrid but for alternative routes as well.

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