The 2026 FIFA World Cup has given a $20 billion boost to the US economy, according to Bank of America, sparking massive local booms in host cities and helping propel the strongest surge in consumer spending in more than four years.

BofA CEO Brian Moynihan said half of the tournament’s $40 billion in fresh economic activity has been funneled to the US, and that the footprint extends far beyond the turnstiles. The bank’s 70 million consumer customers, who spend more than $400 billion a month, are shelling out 5% to 6% more than a year ago.

“Even when we look into host cities like a Kansas City, we can see the growth rate in spending faster than other cities,” Moynihan said. “So it’s having this on-the-ground economic impact, and that spending is going into what we call bricks-and-mortar — going to bars and restaurants and things like that — not necessarily only the people in the stadium.”

BofA CEO Brian Moynihan spelled out in an interview with CBS how the World Cup had helped boost the US economy CBS

Americans are spending at their fastest clip since early 2022. Total credit and debit card spending jumped 6.3% year over year in June, or 5.6% after stripping out gasoline, economists at the financial giant found.

Government data tells the same story. US retail and food services sales climbed 6.7% from a year earlier in June, the fifth straight monthly increase, with second-quarter sales up 6.4% from 2025, the Census Bureau reported.. Spending at bars and restaurants — the categories most exposed to World Cup crowds — ran 3.8% ahead of last year.

Bank of America’s data shows airline and leisure spending posted double-digit growth in June, while clothing rose 7% and general merchandise 5%. The BofA report does not include spending by foreign visitors, meaning the overall economic impact is undoubtedly far higher.

According to the New York/New Jersey Host Committee, fans spent $1.2 billion in June in alone, generating a total economic impact of $2.1 billion. In that same time, the host committee says $228 million in tax revenue was generated as well.

Spanish fans celebrated Sunday’s victory over Argentina in Times Square, but Bank of America’s report excludes spending by foreign visitors. REUTERS

The tournament’s kick is visible in the geography of the receipts. Brick-and-mortar restaurant spending in host cities jumped two percentage points during the opening weeks, while non-host cities were essentially flat, the bank found — with lower-income consumers driving much of the boom.

Hotels cashed in through price, not just volume. Kansas City saw a roughly 90% jump in renevue per room, while San Francisco saw that figure surge by 55% according to data from CoStar Group.

“In Kansas City, that’s going to dominate your markets quickly,” noted Victor Matheson, a sports economics professor at the College of the Holy Cross. “You’re going to have likely bigger increases in hotel prices because you get capacity constrained a little quicker.”

Matheson said the financial boon for each city was also highly dependent on the luck of the tournament draw.

The Spanish and Argentine flags are displayed on the pitch ahead of the 2026 World Cup football tournament final match between Spain and Argentina at the New York/New Jersey Stadium in East Rutherford on July 19, 2026. AFP via Getty Images

While Boston was “overrun with Scots drinking us out of our beer,” he pointed out that a group stage matchup like Austria versus Algeria in Kansas City likely relied much more heavily on local attendance, as those nations traditionally bring smaller traveling fan bases to North America.

The wallet-opening comes despite a broader hiring slowdown. Employers added just 57,000 jobs in June, well short of forecasts, and leisure and hospitality shed 61,000 positions on weak seasonal hiring, the Bureau of Labor Statistics reported.

That undercut predictions, including a Goldman Sachs estimate of a 40,000-job World Cup boost, that the tournament would supercharge payrolls.

Workers at the bottom who switched jobs pocketed raises of roughly 12%, according to Bank of America deposit data. Their card spending climbed 4.8% from a year earlier.

President Trump appeared alongside FIFA boss Gianni Infantino to present the winners’ medal to Spain after they defeated Argentina 1-0. AFP via Getty Images

Officials are now scrambling to make the soccer party permanent. Boston, after absorbing its influx of international visitors without major hiccups, is already eyeing a bid for the 2031 Women’s World Cup, while President Trump has floated the idea of the US bidding for the tournament once more in the coming years.

The 2026 FIFA World Cup ran from June 11 to Sunday’s final that saw Spain defeat Argentina 1-0. The competition was jointly hosted by 16 cities across three countries: the United States, Mexico, and Canada.