THE World Cup was a smashing success for Donald Trump’s economy – a risk that has landed America a huge windfall.
The tournament brought in billions of viewers worldwide, and for those involved across the country, a major cash boost.
Bidding to host the World Cup years ago was always going to be a gamble.
The US isn’t known as a nation that loves soccer, but there was belief that would change once the tournament arrived.
That thought process ended up being correct, and it brought on massive returns for the country.
According to Bank of America, the 2026 World Cup provided a $20 BILLION boost to the US economy.
CEO Brian Moynihan said revealed the figure is half of what the tournament generated as a whole.
“Even when we look into host cities like a Kansas City, we can see the growth rate in spending faster than other cities,” Moynihan told the New York Post.
“So it’s having this on-the-ground economic impact, and that spending is going into what we call bricks-and-mortar — going to bars and restaurants and things like that — not necessarily only the people in the stadium.”
Bank of America is seeing that Americans are spending money faster than they have since the beginning of 2022.
Credit and debit card spending is up 6.3 percent since last June and even without rising gas prices that number is still 5.6 percent.
Financial figures from the US government echo that economic boom.
Food and retail services are up 6.7 percent from last June’s figure.
According to the New York/New Jersey host committee, fans spent $1.2 billion on the World Cup in June alone.
That generated a total economic impact of $2.1 billion and brought in $228 million in tax revenue.
Hotels saw a huge boost in revenue as well.
Rooms in Kansas City saw a whopping 90 percent boost in revenue while San Francisco went up by 55 percent, according to data from CoStar Group.
Source : https://www.the-sun.com/sport/16725562/donald-trump-fifa-world-cup-gamble-economy-boost/
