You don’t have to be a huge sport or rugby fan to notice that England has had one too many international visitors over the past few weeks. Yes I am talking about the Rugby World Cup. The 2015 Rugby World Cup started on the 28th of September with the final coming up in just a couple of days on the 31st of this month. Our very own Leicester City Stadium had the privilege of hosting 3 of the matches. Now for most Brits the Rugby world cup is a touchy subject, what with England exiting the tournament early. But it’s not all bad news, in fact there are a lot of positives to hosting the tournament.
According to an article in the Telegraph, England can still and is benefiting from the tournament despite the early departure. The Office for National Statistics reported that sales rose by 1.9% in September and this good news led to the appreciation of the pound against the dollar. It rose by 0.5%! And not only that, with so many people coming from all over the world to come witness this sporting event, retail sales volume grew by 6.5% compared to last year around the same time. Since people need to be munching on something while watching the games, food store sales saw a 2.3% rise in September compared with the previous month. EY conducted an economic impact study on behalf of England Rugby 2015 which revealed that the world cup is set to deliver nearly £1 billion of additive value into the UK economy. Surely that should make up for the early exit. The full report is titled The economic impact of Rugby World Cup 2015.
I hope this puts a smile on all your faces, have a good week!