LONDON: Italy’s win against England in the UEFA Euro 2020 final will benefit the Italian GDP by €4bn.

Just by reaching the final, both nations potentially enjoyed a significant increase in GDP due to increased consumer confidence leading to spending at pubs, bars, supermarkets, and other hospitality venues.

Brand Finance, an independent brand valuation consultancy, estimates that Italy’s win will result in a bounce in consumer confidence and spending, particularly on food and drink, alcohol and tobacco, household goods and services, transport, recreation, culture, and hospitality.

Managing director Massimo Pizzo said: “Italy’s victory will certainly mark a significant moment for the nation, particularly following the difficulties faced over the last year and a half during the pandemic, with Italy being especially hard hit. This moment has undoubtedly revived the nation’s spirits, therefore restoring consumer confidence and spending.”

France men’s national team went into the 2018 World Cup with €71m in annual sponsorship but after coming away with the trophy their annual sponsorship had rocketed by 29pc to €91million by the time Euro 2020 came around.

The England team’s respectable fourth place World Cup finish delivered a 10pc boost to sponsorship income between the two tournaments, from €70m to €77m, whereas Italy’s failure to qualify contributed to a five per cent in sponsorship income.

Based on France’s performance after winning the 2018 World Cup, Italy’s Euro win could deliver an additional €13m in sponsorship income, taking total sponsorship income to €59m.

England’s strong performance has the potential to deliver a €25 =m boost to sponsorship income for the FA, taking the England’s men’s national eam sponsorship to a record €95m for the World Cup in Qatar next year.

For most of the national football teams, the biggest individual sponsor is the kit manufacturer.

Italy signed an eight-year kit manufacture contract with Puma in 2015, before a sponsorship value explosion around the 2018 World Cup, which has their kit deal bringing in just €22m per year until 2023.

Italy winning the Euro could result in Puma getting a significant return on this sponsorship investment.