Although the evidence is a bit shaky, economists at Chosun Ilbo have found a positive economic trend for countries that win the World Cup. Since Spain was a market bête noire, a boost would help the global economy.
Here it is:
A study of the economic growth rate of the winners of the World Cup in the last two decades shows that five — except for 1998, when the whole of Asia was hit badly by the economic crisis — saw growth soar compared to the year before their victory.
Argentina, the 1986 winner, recorded an impressive 7.1 per cent of economic growth. Germany (1990) posted 5.7 per cent, up 1.8 per cent from 3.9 per cent the year before. Brazil (1994 and 2002) saw 5.9 per cent and 2.7 per cent, up 1 and 1.4 per cent. And 2006 champion Italy recorded 2 per cent growth that year, up 0.66 per cent from 2005.
As for reasons, Chosun Ilbo offers better consumer sentiment and higher spending on alcohol, clothes, and sports.
On the other hand, check out 9 Reasons Why Spain Is A Dead Economy Walking –>
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.