After the initial enthusiasm caused by the decision to grant Poland and Ukraine the right to hold the Euro 2012 European soccer championships, the time for cool reasoning has come. The list of investments needed is long and there is not much time. The cities where the most important matches will be held will change the most. Warsaw will host a few games, including the opening match and a semi-final, and that requires investment. The city needs a modern stadium, training facilities, and appropriate transport and hotel infrastructure. Government and city committees supervising Euro 2012 preparations have been established.

The government will build a National Stadium in Warsaw for 70,000 people. Initial concepts already exist since the subject has been raised for several years, but it took the UEFA announcement to prompt decision-makers into action. The construction of the stadium and auxiliary infrastructure will cost zl.1.25 billion. The government is preparing a resolution on financing the project from the funds of the national lottery operator Totalizator Sportowy. There is already a land development plan for the area, calling for the construction of a National Sports Center in Warsaw with a stadium, a business and conference center, a hotel, a sport center including the headquarters of the Sports Ministry, a sports and entertainment arena, an Olympic-size swimming pool with a waterpark, training facilities and underground garages.

The new stadium is expected to be both functional and interesting in terms of architecture.

The center is not the only investment needed. The city will also build or modernize several stadiums to adjust them to the needs of a Euro 2012 training base. Also, the city transport system has to be improved. The roads in the stadium area and the main city arteries will be modernized, and a wide road connected to the Świętokrzyski Bridge will be built. Preparation work for the construction of a second metro line has been accelerated. The line's middle part, between Daszyńskiego Traffic Circle in Wola district and Warszawa Wileńska railway station in Praga district, will be ready by 2012. Several bridges will be renovated. For example, the renovation of Poniatowskiego Bridge and modernization of its tramline has just begun. Two new bridges, Krasińskiego and Północny, will be built. The City Transport Authority plans to modernize its buses and trams.

The residents of the capital's Praga district, where the National Sports Center will be located, will be affected the most by the changes. The area will get a metro line, an international-standard stadium, better roads, and, according to Polish State Railways' (PKP) plans, a new Warszawa Wschodnia railway station complete with a modern bus station. There are many plots owned by the PKP in the area that will be earmarked for investment in hotels and office buildings.

Warsaw residents would also welcome investors willing to renovate Praga tenement houses, develop unused empty plots and start investment in the Port Praski area along the Vistula River-an idea that for years City Hall has failed to pursue. Tourists will be able to visit the Koneser vodka factory that was recently sold to BBI Development. The investor plans to assign part of the premises for culture and art.

In order to ensure that the benefits of Euro 2012 are lasting, Warsaw also has to take care of investment that is not directly linked with sports. It has to create places where soccer fans and other tourists will be able to relax, so that they share their good experiences with their friends later on. The city needs interesting projects, such as a Museum of Modern Art, a Museum of the History of Polish Jews, and the Copernicus Science Center. Also, land around the Palace of Culture and Science has to be developed. Another development plan is being prepared, but it seems only the Museum of Modern Art and a shopping mall built by local traders will be completed by 2012. Still, tourists will be able to stroll around the Old Town and along the renovated Krakowskie Przedmieście Street. There is also a chance the city will manage to renovate several squares, such as Teatralny, Grzybowski and Trzech Krzyży, and build garages under them.

Warsaw also has to improve its transport connections with other cities and countries. Soon, after a delay of many years, a new terminal at Warsaw's Okęcie Airport will open. The access road to the airport will be extended and modernized, and will be connected to the Warsaw beltway and the freeway that should be ready by 2012.

PKP will modernize railway lines and buy modern train cars. Yet this type of investment is not up to Warsaw City Hall; neither is the planned modernization of access roads to towns where local governments want to build airports. For the time being, the first airport that will take some burden off Okęcie has been completed in Modlin, around 40 km northwest of downtown Warsaw.