ING Studies Correlation Between the FIFA World Cup and the Economy
AMSTERDAM, May 25, 2010 /PRNewswire/ --
- Brazilians Would pay Most for World Cup Title
Brazilians would be willing to pay more than 800 euros each in exchange for the World Cup football title. Together with the Portuguese (368 euros), they would be prepared to dig deepest into their pockets in exchange for the World Cup glory. At 47 euros a head the Dutch are more frugal, but still more generous than the Germans or Japanese. Brazilians are also the most optimistic about their chances, with nearly three out of four people surveyed believing the 'divine canaries' will take the title. Other countries also see Brazil as hot favourites, with only the Argentineans and the Spaniards believing they have a better chance of winning than the Brazilians. To support their national teams, consumers will be buying masses of fan gear over the next few weeks. On average the French and English will spend 15 euros each, with the Spanish buying more than 27 euros worth of gear and souvenirs. These are a just some of the findings of a comprehensive study by ING into the correlation between the World Cup and the economy.
Impact of the World Cup on the economy
As the main sponsor of the Dutch national squad, ING is launching various initiatives in connection with the World Cup. One of these is the 'ING WK-nomie' (ING World Cup-onomics) study. Charles Kalshoven, chief economist at the ING Economic Bureau Retail Netherlands: "The further the Dutch go, the better it will be for the Dutch economy. A similar effect can be seen in other participating countries. The impact of the World Cup can be felt in the workplace and in shops, but also in consumer confidence and spending."
Sacrificing days off to win the World Cup
In the Netherlands one in every five people would be prepared to give up more than a full working week in days off in exchange for winning the World Cup. As with putting a price tag on winning the World Cup, most other countries are more generous in this respect. In Brazil and Argentina, 72% and 79% of the population, respectively, would be willing to sacrifice days off. On average they would gladly lose three full working weeks of holidays in exchange for winning the title. In contrast, the Japanese and Americans would be less prepared to give up their days off.
Anglo countries watch fewer World Cup games
Enthusiasm for the World Cup differs from country to country. For example, 58% of Americans say they will not be watching any World Cup games. Remarkably, a large percentage of people in other English-speaking countries - England (42%), Australia (43%) - will not be watching games either. Many fans in Mexico and Portugal watch the games in bars (28% and 26%, respectively), whereas Portuguese people prefer watching the games at home and Brazilians get together with family and friends.
To underpin their support for their national teams, people are stocking up on fan gear. On average the Dutch are spending 5 euros while the French and English are buying 15 euros worth of gear per person. The Spanish are spending even more: on average 27 euros each.
Social significance of football
The way that people experience the World Cup and the value they attach to winning it appear to be linked to the social significance a country attaches to football. ING asked people in 12 participating countries which career they would ideally choose for their sons. Brazilians (39%) and Argentineans (32%) dream most of a professional football career for their sons, followed by Spaniards and Mexicans (both 29%). This preference was the weakest in Germany and Japan at a mere 7%. The Dutch would most like to see their sons become company executives (61%), with a professional football career in third place (13%) - still well ahead of a career as a movie star (4%) or Prime Minister (only 2%).
Brazilians and Spaniards most confident about own chances
Brazilians are most confident about their own team with nearly three-quarters of the people surveyed expecting the 'divine canaries' to take the cup home. Brazil are also hot favourites with people surveyed in other countries. Only Argentina and Spain believe they have a better chance of winning than Brazil.
On average, Spaniards give themselves a 58% chance of taking the cup home. Argentineans also have faith in their national squad and think they have a 48% chance of winning for the first time since 1986. The Dutch give their squad a 34% chance of success. Remarkably the Mexicans have more faith in the Dutch team than the Dutch do, while Italians are least convinced that the Dutch will hoist the trophy.
The five topics of 'ING WK-nomie' (ING World Cup-onomics)
ING has researched the value of the FIFA World Cup both in the Netherlands and abroad. A total of 1,745 adults in the Netherlands were surveyed, along with 697 Dutch children between 8 and 12 for a special kid's survey. ING also polled the expectations and intentions of more than 6,000 adults in 12 participating countries. In addition, 574 business people were surveyed to analyse the importance of the World Cup.
A new element is the survey held among former members of the Dutch squad: How do they experience the World Cup and the Orange hype that holds the country in its thrall?
The international survey was conducted among adults in Argentina, Australia, Brazil, Germany, France, England, Italy, Japan, Mexico, the Netherlands, Portugal, Spain and the United States.
The survey was divided into five themes. The publication dates are as
follows:
Theme Date of
publication
1. The value of football 25 May
2. Orange in business 2 June
3. Football heroes look ahead 9 June
4. Kids & the Orange squad 16 June
5. Orange in South Africa 23 June
6. Orange Question of the Day From 30 June
The findings of the various studies have been analysed by ING, including the ING Economic Bureau.
ING
With more than 8.9 million account holders ING is one of the largest and leading financial service providers in the Netherlands. ING offers customers exemplary service and maximum convenience at competitive prices.
ING offers retail and private banking services to individuals and small and medium-sized enterprises in the field of banking, savings, mortgages and investment. ING also intermediates in life insurance and retirement services.
ING is a global financial institution of Dutch origin, with more than 85 million customers in Europe, the US, Canada, Latin-America, Asia and Australia. ING Bank N.V., with its registered office in Amsterdam. Trade registry no. 33031431, Chamber of Commerce Amsterdam.
SOURCE ING
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