Euro 2020 provided a windfall for pubs and restaurants as the country reached for pints whilst watching England reach their first final since 1966, new research released today shows.
Latest spending data from Lloyds Bank shows spending in pubs and restaurants surged during Europe’s flagship men’s international football tournament, rising 52 per cent compared to the same period in 2019.
Supporters rushed to supermarkets to buy match-day essentials in their droves, with spending up 26 per cent compared to 2019. The period covers 11 June to the 11 July.
The volume of punters likely increased as England progressed through the latter stages of the tournament. Spending was supported by consumers deploying the high levels of savings they have built up since the onset of Covid.
England’s men’s football team reached the final of a major tournament for first time in 55 years. They narrowly lost out to Italy on penalties at London’s Wembley Stadium on Sunday.
Gabby Collins, payments director, Lloyds Bank, said: “The feel good factor from Euro 2020 clearly provided the perfect platform for consumers to spend some of their lockdown savings.”
“Whether people were buying food and drink for a night in with the football, or at their local pub soaking up the atmosphere, spending soared above levels seen in 2019.”
Travel spend boosted by double jabbed
Lloyds’ data also showed consumers were incentivised to book holidays after the government announced travel restrictions will ease for those who have been double jabbed from 19 July.
Travel agencies saw spending jump 14 per cent compared to before the tournament, whilst spending on airlines surged 33 per cent.
“Many will hope that the consumer confidence seen in spending power throughout the tournament carries through the rest of the summer months” Collins added.