Businesses stand to benefit from an economic boost worth £2.72 billion if the England football team make it to the World Cup final in Moscow on 15 July 2018.

Research from VoucherCodes suggests owners of shops, bars, restaurants, cafes and clubs around the country have already banked £1.33 billion from the Three Lions roaring into the quarter-finals.

It said shop owners were the biggest winners so far, with 86% of fans stocking up on food and drink before watching England's first 4 matches at home.

The figure is tipped to more than double should Gareth Southgate's young team make it to the final, although they must get past Sweden in the last-eight and either Croatia or Russia in the semi-final.

Jimmy New, director of marketing at VoucherCodes, said:

"The 2018 World Cup looks set to be a big one in the UK, not only for fans but for British retailers too with a huge £1.33 billion estimated to be put through the tills to celebrate the occasion."

The Bank of England also noted that England's World Cup success was boosting the UK economy.

Andy Haldane, chief economist at the Bank of England, added:

"The underlying picture now appears to be one of gently rising household spending, and then there is the World Cup.

"Without wishing to tempt fate, England's recent sporting success on the football field has probably added to that feel-good factor among England-supporting consumers."

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