FOOTBALL fans will help hike pub and bar sales by £116 million this summer thanks to the World Cup, new research shows.
The extra revenue boost will be mainly driven by supporters heading to their local boozer boosted by extended licencing times, HSBC say.
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Harry Kane training for England in Florida as he prepares for the World Cup Credit: Getty
Pubs and bars set to see boost in trade of more than £100 million from World Cup, HSBC say Credit: Alamy Stock Photo
Late kick-off times for games in the host countries America, Mexico and Canada could see drinks being ordered up until 2am for some home nation games.
The first game between Mexico and South Africa kicks off next Thursday.
The study, based on HSBC UK customer card spending, shows pubs and bars are expected to make £367.1 million between June 11 and July 19.
This compares to just £355.4 million in a non-tournament year.
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As HSBC spend here represents 10 per cent of the market, it scales up to around £116 million in additional sales for the sector.
It comes after the industry has been blighted by increased business rates along with higher labour costs including minimum wage hikes and extra national insurance contributions.
James Sawley, Head of Retail and Leisure at HSBC UK, said: “The UK hospitality sector contributes so much to the UK economy, and major sporting events can provide a timely boost for pubs, bars and venues up and down the country.
“We’re focused on backing businesses with the right support and funding options, so that they can make the most of the opportunity.”
The ETM Group, which owns several pubs and bars in the capital, has already noted a surge in extra business ahead the tournament.
Colin Sadler, MD at ETM Group, said: “The buzz around this summer’s football tournament has been incredible, with fans across the city coming together to support teams from around the globe.
“We’ve seen record pre-tournament bookings and expect trade to rise by over 50% this summer, helped by the tournament and longer opening hours.”
