14 September 2009

World Cup a £1 billion boost to UK economy

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Analysts say the UK economy will be greatly boosted thanks to England securing a place in the 2010 World Cup in South Africa.

UK Economy

Analysts say the UK economy will be boosted from England playing in the 2010 World Cup in South Africa.

Economists have predicted that the qualification could bring £1 billion to the economy, because of the consumer confidence of soccer fans.

The previous World Cup tournament in Germany was worth £1.25 billion pounds to the UK economy, according to the British Retail Consortium.

The consortium's spokesman Richard Dodd said, "In 2006, people bought food and drink to consume while they were watching the matches and they bought flat screen TVs to see the action.

"So there will certainly be a real boost to retail spending this time as well, although of course we are living in different economic times than we were in 2006," he said.

The consumer boost from the 2010 could make up for the loss when England failed to reach last year's European Championships.

Estimates of the UK TV audience for the World Cup say 17 million will watch each match during the June 11-July 11 tournament.

 


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