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What will the World Cup do for the economy?

At the time of every World Cup there is a lot of hyperbole about what it will do for the British economy. It's one of the standard stories that is always wheeled out. However, consumers only have a finite amount to spend, so if they spend more during the World Cup they may have less to spend later.

However, consumer demand has been depressed this year and the UK economy is (over) dependent on consumer spending, so there is a sense in which any boost is welcome.

VoucherCodes and the Centre for Retail Research reckon it could be worth £1.3 billion extra to the economy if we get through the group stage and £2.7 billion in the unlikely event that we win the trophy.

However, given a £2 trillion economy, a billion or so of extra spending is relatively trivial. Pubs and drinks sales from supermarkets would benefit, but that would mean less spending elsewhere.

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