The Euros 2024 football tournament could provide a £800 million (US$1 billion) boost to pubs and bars in the UK if England is crowned champion.
The UEFA European Football Championship, informally known as the Euros, kicked off on Friday 14 June in Germany and will conclude with the final on 14 July.
The England team, which came close to victory in the last Euros, defeated Serbia in its first game last night (16 June).
According to trade body UK Hospitality, the country’s pubs and bars could be set for a £340m (US$430.8m) boost in sales, increasing to £800m if England triumphs in the contest for the first time.
Kate Nicholls, chief executive of UKHospitality, said: “The nation is set to be gripped by the Euros, with fans filling our pubs and bars to cheer on the home nations.
“Outside of being at the games in Germany, we know the pub is the number-one place to watch live sport and hospitality businesses can’t wait for the tournament to begin.
“The group stage alone will provide an additional £340 million in sales, but England lifting the trophy could see almost a billion-pound boost for our pubs – adding just one more reason to get behind the Three Lions.”
Two in five Brits who plan to watch the football will head to pubs and bars, according to CGA by NIQ.
CGA estimates that the tournament would likely bring a surge in footfall, as 79% of those surveyed expect to go out to pubs and bars more often while the games are on.
CGA’s trading data found match days at the last Euros in 2021 and the World Cup in 2022 triggered huge uplifts in trading, with the longer alcoholic drinks (LAD) category’s sales 14% higher on 2022 World Cup match days compared with the same days in the previous year.
The sales gain would be good news for the nation’s bar chains, which reported a double-digit sales drop in April – its fourth month of declines.
On-trade spirits sales in the UK also struggled last year, with CGA reporting a 4.6% decrease.
Meanwhile, total spirits volumes dropped by 5% in the UK in 2023, data from IWSR Drinks Market Analysis revealed last week.