The reach of sports is far and wide and the economy of the United Kingdom is poised for a significant boost as fans prepare to spend an additional GBP 233 million in spending over the next three months, thanks to two major sporting events taking place across the English Channel in France and Germany.

Even though the United Kingdom is not the host of either the 2024 Summer Olympics or the ongoing UAEFA Euro2024 football championship, the British economy is set to gain a multi-million-pound boost thanks to fans’ spending during the two major sporting events.

According to a press statement by analysis firm Experian Economics, estimates say that the football European Championships in Germany and the forthcoming Paris Olympics, will see Great Britain spend an additional GBP 233 million over the next three months. The analysis focused on the retail and food and drink sectors.

It says that increased spending in pubs and bars as fans gather with friends to watch the game, and in supermarkets as supporters spend on food and drink to watch at home are significant drivers behind the boost.

Some fans are also expected to spend on new televisions and electronic devices, the statement adds.

“We are a sport-obsessed nation and our data analysis shows fans are more than happy to spend, either at home or in the pubs and bars, to make the most of the summer’s sporting events,” says Mohammed Chaudhri, Chief Economist, Experian UK&I.

“Unsurprisingly, games involving England are the largest drivers in terms of spend, the longer Gareth Southgate’s team stay in the tournament, the better it is for everyone, including football fans and the economy,” he adds.

“As tempting as it is to splash the cash to try and watch your team win the Euros, or see some of the world’s best athletes performing, it’s important not to get too carried away,” says John Webb, Consumer Affairs Manager, Experian UK&I.

“Budgeting properly and not feeling pressured into spending big, means you can enjoy your favourite sports events without getting into debt. Remember if you are trying to secure tickets only use official and verified websites too, lots of offers on the web are too good to be true and could easily be a scam.”