Ever since the government announced that Britain’s economy had emerged from recession, there has been widespread speculation that we could experience a double-dip recession. Obviously there are many factors both economic and social which will affect this; however, you may be surprised to hear that football is one of them.
A report conducted by PWC has found that an England win at the World Cup this summer would have an extremely positive impact on the economy.
The poll found that over thirty per cent of all company owners believe that their business would improve if England were to replicate the 1966 victory.
Richard James, SME director of PWC, comments; “The fact that there many seasonal and social factors which contribute to the countries economic performance has been well documented – think back to May last year when the increase in temperature led to an increase in retail revenue and comparatively how the artic weather conditions at the start of this year had a extremely negative impact on the high street.”
“As the report confirms, victory in the World Cup would lead to an increase in consumer confidence and subsequently consumer spend. Despite the fact we are out of the recession, our recovery is still somewhat anemic and therefore a World Cup win and the subsequent increase in consumer spend would provide a welcome boost to the economy.