Spain defeated Argentina 1-0 on Sunday in the World Cup final, and according to Bank of America CEO Brian Moynihan, the tournament has generated about $20 billion in economic activity in the U.S.
“It’s having this on-the-ground economic impact, and that spending is going into… bars and restaurants and things like that, not necessarily only the people in the stadium,” Moynihan said on Face the Nation.
ESPN reported strong beer sales during the tournament, with beer sales rising about 4% nationally during the tournament’s early weeks when compared to the same timeframe the year before. Host cities saw beer sales rise 14%, which makes sense after Scottish fans channeled Wisconsinites and drank Boston dry.
In Business Madison wrote about some of the economic effects of the World Cup as it began, with area bars saying they made huge sales during the tournament, often filling up hours before matches.
