WILL an England win over Italy tonight really boost the economy? The answer is yes – and no, writes Harry Mottram.
ITV recorded 27.6 million viewers for the England v Denmark football match in the European Nations tournament last week, making the advertising breaks some of the most valuable to firms since the early 1980s when there were only three channels.
Deliveroo benefitted in particular as they recovered some of their losses from the slump in share price earlier this year.
However public transport was down in numbers during the game, as were cab fares so not everyone benefitted.
Betting shops Ladbrokes and Corals will benefit from the estimated £17.5m expected to be placed in bets on the final while publicans believe that that around 13 million pints will be sold on Sunday afternoon and evening despite Covid restrictions.
Statistics show that after England’s 4-2 defeat of West German in the 1966 World Cup Final at Wembley there was a 1.5% rise in GDP.
Similarly the economy was boosted immediately after the London Olympics in 2012.
What the optimists don’t like to tell us about is the slight slump following the boost as the economy returned to normal.