World Cup: does victory have an effect on growth?

Published on December 18, 2022 by Le Journal du Dimanche

The French national team's fine showing at the World Cup will not bring about an upturn in the national economy. According to various institutes, including Rexecode, Asterès and Insee, there are a number of reasons for the lack of a surge in both consumer spending and household morale: winter is a less favorable season for going out, leading to a drop in the number of people visiting bars and restaurants. And inflation (7.1% in 2022) encourages savings rather than spending.

A victory will have no effect on growth," confirmed Bruno Le Maire on December 16. That wasn't the case in 2018 either, nor during qualification for the final in 2006." The onlyadvantage, and not the least, according to the Minister of the Economy and Finance, is "the consolidation of a popular pride, that of seeing France consolidate its place as the best footballing nation in the world".

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The triumph of 1998, when Les Bleus won their first world title, remained an exception. The euphoria led to a 2.4% rise in consumption and a 3-point jump in household morale. But France was hosting the tournament that year.

Sales of televisions and beer taps on the rise

Since the start of the Cup, consumption has remained stable, except for televisions (twice as many sales at this time of year as usual, according to Fnac-Darty) and beer taps (+73% during the week of December 5). Other products and services that benefited from the event included chips and crackers (+17% at Carrefour), and ice-makers (+30%).

The jerseys of certain teams - France, Morocco and Argentina - have also seen their sales soar. Sometimes too much so: the Albiceleste's jerseys are out of stock, as their manufacturer, Adidas, did not anticipate such a craze. The beIN Sports channel, marketed in France by Canal+, recorded an increase in subscriptions, with around 500,000 new subscribers. This is higher than in 2018, when the channel added 400,000 new subscribers.