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The World Cup lifted consumer spending, hotel revenue and tourism across several U.S. host cities, with Philadelphia and Kansas City posting notable gains. The broader economic impact remains unclear.
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02The World Cup boosted consumer spending, hotel revenue, and tourism across several U.S. host
00:08cities, with less prominent destinations such as Philadelphia and Kansas City recording some
00:13of the strongest gains, according to the Wall Street Journal. Bank of America estimated that
00:19U.S. credit and debit card spending rose 6.3% in June from a year earlier, with the World
00:25Cup
00:25likely boosting purchases at restaurants and physical retail stores. Restaurants and physical
00:30retailers benefited, while hotels generated about 35% more revenue per available room on
00:37average match days through early July. European flight bookings increased in several host cities
00:43but fell in New York, Los Angeles, and Miami. The tournament's broader economic impact remains
00:49unclear and hiring gains failed to materialize in June. For all things money, visit Benzinga.com.
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