As travel agents prepare for a bumper period, the UK economy is set to take a hit. Fewer barbeques and match-viewing parties will hit supermarkets, pubs, bookmakers and sports retailers across the country.
“England’s early departure is going to halve the expected boost to the economy from the World Cup,” said David McCorquodale, head of retail at accountancy firm KPMG. “Undoubtedly there will be a depression for the retailers. People will still watch the World Cup but they would have thrown a much bigger party if their team was still in the tournament.”
The British Retail Consortium had estimated the tournament would be worth £2bn to the economy and some of that has already been spent on new television and stocking up on beer and wine.
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