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How Bristol and the South West will benefit if England reaches the World Cup final

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Written by: Hannah Baker | Posted 11 July 2018 13:15

How Bristol and the South West will benefit if England reaches the World Cup final

World Cup fever has gripped the nation and as England prepares for the semi final against Croatia tonight, fans across the South West will be out in force.

A win would see Gareth Southgate's team secure a place in the final against France on Sunday, following Belgium's defeat against the French side last night (July 10).

But it's not just fans who are celebrating, retailers, restaurateurs and pub owners across the South West are enjoying the boost to business the World Cup is providing.

It's been 28 years since England reached a semi final of the World Cup and Bristol fans have been celebrating by spending more money than usual in the city's pubs, shops, bars and restaurants.

The economy is predicted to enjoy a £1.33billion boost from the tournament, according to the Centre for Retail Research, but that could rise to £2.72billion if England makes the final.

Read more: Bristol economy set to outpace rest of UK, says expert

The CRR says Brits are likely to spend around £1.2billion on food and drink if the England side reaches the final.

In June, there was the biggest spike in non-essential consumer spending since October 2016.

And the governor of the Bank of England, Mark Carney, says a World Cup win would give the economy an "unadulterated" boost.
 
"It would be an unalloyed, unadulterated, absolute good," he said at a Northern Powerhouse summit in Newcastle.

"Businesses across Bristol are benefiting from World Cup spending," added Bristol Post business editor Hannah Baker.

"If England wins against Croatia tonight, it would be fantastic for Bristol as pubs, bars and shops are likely to enjoy a real boost in spending on food and alcohol - and that will be great for the city's economy

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