The combination of football and sunshine have created a multi-million feel-good factor for the UK economy.
As World Cup fever sweeps the nation and the warm weather continues, the BBC reports that we could receive an economic boost.
Sales increased by £800 million compared to four years ago when England were knocked out at the group stages. And if England makes the final on Sunday, the UK economy could be boosted by as much as £2.7 billion.
According to data from the Centre for Retail Research (CRR) conducted on behalf of Vouchercodes.co.uk, England’s World Cup journey predicted that £193 million would be spent in pubs, restaurants, clubs and cafés around the country, rising to £488 million if the Lions make it to the final. Regionally, Londoners are said to be most likely to be gripped by football fever. With 60% of Londoners planning to watch the event.
Compared to previous tournaments, things are different this year. We were told the players were young and inexperienced and not to expect too much. However, everything changed as soon as they started playing.
The World Cup Effect
Across the country, thousands of fans gather in pubs, bars and restaurants often extending games into all-day events. It is predicted that tonight will be no different, as England play their first World Cup semi-final in 28 years. As reported in Bar Magazine, The British Beer and Pub Association (BBPA) is predicting that England fans will buy 10 million extra pints during the semi-final World Cup against Croatia tonight, boosting the economy by up to £30m.
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Article categories: Leisure & Hospitality