Could a World Cup victory help Spain’s national economy?
Four years of economic crisis in Spain have harmed both businesses and workers, bringing damage to the nation’s brand. But Spanish sport, especially football, continues to thrive despite the financial situation—offering hope for Spain’s reputation and real economic returns to the state treasury.
Could a World Cup victory actually result in a temporary upturn of the national economy? It’s very possible. Here’s why.
1. Emotional spending
Peoples’ depressed moods in such long periods of crisis have long been known to influence the consumption of goods and services. A national team win for Spain could be just the mood enhanced needed—a jolt of joy that lets people forget, if even for a few weeks, the cloud of pessimism hanging over household consumption.
Don’t underestimate the attraction Spain’s tourism sector could gain with a victory of this type. Football is a worldwide sport with a worldwide audience, and the players of our national team, “La Roja,” act as brand ambassadors wherever they go. A World Cup win is highly visible and could very easily serve as an international tourism campaign—for free!—by putting Spain on the holiday map for thousands of fans.
Reigning as the best team in the world brings many benefits, including major sponsorship interest. When brands step in to sponsor players, clubs, and the industries surrounding them (and then activate against those sponsorship rights), there is a lot of business activity as a result.
Indeed, brands like Movistar / Telefónica, BBVA and Seguros Playo continue to bet on football. As the most popular sport in Spain, football provides one of the strongest possible emotional connections between the brands and the fans, and serves as a global platform for the brand of Spain itself.
We’re starting to see the light at the end of this financial tunnel, and we hope Spain reaches the top in Brazil and is able to help speed up the recovery. But if the economy doesn’t notice, then we can still smile and shout with pride that “Yo soy español, español, español!”
Put our expertise to work for your brand.Get in touch