World Cup Fans Drive Spending Surge In These US Host Cities

Bank of America has released new aggregated credit and debit card data showing that the World Cup is already driving a noticeable increase in retail spending activity across the tournament's 11 U.S. host cities.

According to BofA analyst Aditya Bhave, brick-and-mortar spending at restaurants and bars in host cities rose 5.3% year over year in the three weeks ending June 27, outpacing the 3.8% gain seen across the rest of the U.S.

Bhave noted that other forms of brick-and-mortar retail spending also accelerated in host cities, suggesting the tournament is providing a real-time boost for local restaurants, bars, and retailers.

Boston and Miami were exceptions, with restaurant and bar spending remaining flat and other retail spending slowing. Bhave said both cities hosted Scotland group-stage games and suggested that a heavy inflow of Scottish fans may have crowded out local spending.

Bhave noted that the data likely understates the full impact of the World Cup because it captures only spending by BofA customers.

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