Cash tills still ring merrily in this Red Square, thanks to soccer spending
The party mood that has been a hallmark of the Fifa World Cup in Russia is cheering retailers, restaurants and bars as fans give a boost to consumer spending. Supermarket chains, electronic stores and eateries report a surge in sales and customer traffic as the world's most-watched sports event spurs demand for beverages, food and TVs. The flow of foreign and domestic visitors around Russia may give "a material boost" to consumer spending, according to a report by Bank of America. After President Vladimir Putin spent $11-billion (about R147-billion) on preparations, Russia has earned widespread praise for its efficient organisation of the World Cup. The national team's success in reaching the quarterfinals against expectations also sparked huge excitement among domestic supporters. Many foreign fans have remarked on the warm welcome they have received, adding to the festive atmosphere in the 11 cities that have hosted matches. "Sales during game days are four times higher than a typ...
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