Key Takeaways:
- The upcoming Women’s World Cup, hosted in Australia and New Zealand, will offer limited benefits to the UK hospitality sector due to the significant time difference.
- Major sporting events, like the Women’s World Cup, can bring substantial financial benefits to the hospitality sector, with the 2022 Euros Women’s final injecting £40 million into the UK hospitality industry.
- The hospitality sector, particularly pubs, continues to face unprecedented challenges, with 1,800 closures since 2019, necessitating further support from the government and local community.
The Unseen Domino Effect of Global Sporting Events
Global sporting events, such as the World Cup, have often been seen as economic drivers, stimulating local economies through tourism, advertising, and increased patronage of hospitality establishments. However, the upcoming Women’s World Cup, taking place in Australia and New Zealand, presents a unique challenge for the UK hospitality industry due to the significant time difference.
As the matches will be held either early in the morning or in the middle of the night UK time, pubs, and bars – traditional gathering spots for sports fans – are likely to miss out on the anticipated surge in trade typically associated with such events.
The Powerhouse Potential of Women’s Football for Local Economies
There is no denying the powerful economic impact of major sporting events on the hospitality sector. The Beer and Pub Association’s insight into the 2022 Euros Women’s final highlights this, with the event providing a £40 million boost to the UK hospitality industry. Such figures underscore the significance of women’s football’s growth and its potential to invigorate local economies.
Unfortunately, the forthcoming tournament’s timing is likely to curtail any substantial economic benefits for many independent hospitality firms. These firms, many of which have been eagerly anticipating the potential business influx due to the Women’s World Cup, will find it challenging to leverage this event to their advantage.
The Ongoing Struggles of the UK’s Hospitality Sector
The current plight of the UK’s hospitality industry is cause for concern. According to recent figures, there has been a staggering closure of 1,800 pubs since 2019, marking the lowest number on record. These establishments have been grappling with mounting costs and many have been unable to pass on these expenses to their customers.
These closures reflect a broader trend of economic challenges facing many small businesses across the UK. As the hospitality industry’s vitality hinges on the prosperity of these small businesses, it is evident that urgent measures are necessary to stem the tide of closures and foster growth within the sector.
Calls for Greater Support to Secure Long-term Prosperity
Given the ongoing hardships faced by the hospitality industry, there are increasing calls for more robust support measures. Many within the sector are looking to the government for assistance, hoping for initiatives that will ensure the long-term prosperity of the industry.
However, government aid is not the sole solution to this crisis. It is equally important for the public to rally behind their local establishments. By choosing to frequent local pubs and bars, consumers can directly contribute to the survival and success of these businesses.
“Pubs continue to close at alarming rates – a staggering 1,800 since 2019 – and are currently at their lowest number on record. Many have been struggling to pass on rising costs to their customers and will therefore be feeling the squeeze, like other many UK small businesses” stated Alan Thomas, UK CEO at Simply Business
In times when the usual business-boosting events, such as the Women’s World Cup, are unlikely to provide substantial support due to logistical challenges like time differences, local patronage becomes all the more critical.
Conclusion
In conclusion, the intersection of global sporting events, time zones, and the local hospitality industry’s fate underscores the multifaceted nature of economic dynamics. While we celebrate the strides made in women’s football and the excitement of tournaments like the Women’s World Cup, it is crucial to remember their potential economic implications and, where possible, take action to support our local industries. After all, supporting local businesses during these trying times, whether there’s a match on or not, can make a world of difference.
Sign up to our newsletter & get the most important monthly insights from around the world.
Ready to Amplify Your Brand with Business Today?
Discover the power of sponsored articles and partnerships to reach decision-makers, professionals, and a dynamic audience. Learn more about our advertising opportunities and connect with us today!
Click here to explore our Promotion & Sponsored Articles page.
Are you looking to make an impact? Contact us at pitch@businesstoday.news to get started!
