Following England’s disappointing defeat against Argentina last night (15 July), the retail and hospitality industries are set to lose out as fans skip the celebrations, discount website Voucher Codes has revealed this morning.
The company’s 2026 World Cup Spending Report, which up to this point has predicted great boosts in consumer spending around the football tournament, has now revealed a less impressive set of stats following last night’s 2-1 defeat in the USA.
It predicts the retail and hospitality industries are set to lose out on a combined £334m, according to its latest forecasts.
The report had predicted a £454m windfall for the UK economy if England made it through to the final, but after an early knock-out by Argentina, estimates have been revised to just £114m.
With England now out of the tournament, fans will be downgrading their viewings to more low-key experiences, it said, switching a wild night at the pub for an early night on the sofa.
The retail sector is predicted to lose out on sales, with forecasts dropping by £267.4m from £348.2m to £80.8m. This comes from Brits choosing to turn off the TV, as home viewing is now set to drop from 15m to 11.3m, following England’s departure.
Moji Oshisanya, chief commercial officer at Voucher Codes, said: comments: “While England won’t be bringing football home this year, it’s still astounding to see just how much of an economic boost events like the World Cup can bring to the UK.”
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