The World Cup will generate a £1.3 billion sales boost for retailers, pubs and restaurants if England make it through the second round, new figures suggest.
Football fans will spend £2.58bn if the home nation make it to the final, according to the report by VoucherCodes.co.uk.
The study also suggests every goal by the England team is worth £198.5m for UK retailers and the leisure industry.
More than 23 million people in the UK are likely to go on a World Cup spending frenzy, buying souvenirs or sportswear, new TVs or celebrating at home or in pubs, restaurants and bars, the study found.
Each fan is expected to spend £56 on retail and leisure, but if England reach the final this will double to £112.
Food and drink at home makes up the biggest portion of spending, taking up £508m if England emerges from the group stage, and more than £1bn if the team makes it to the final.
VoucherCodes.co.uk managing director Claire Davenport said: “The World Cup is going to be the biggest retail event in 2014. Since the last World Cup, we’ve seen the UK come out of recession, unemployment drop month-on-month this year and estimates the GDP will grow by 3.1 per cent in 2014.
“This, coupled with consumer confidence at its highest peak since September 2007, has impacted on the feel-good factor of England’s fans this summer - which can only be good news for our retailers, pubs and restaurants.