The FIFA World Cup is doing what central bank policy hasn’t managed in months: getting Americans to open their wallets. But only in certain zip codes.
The Federal Reserve’s Beige Book, released on July 15, 2026, painted a picture of an economy pulling in two directions at once. Host cities for the World Cup are seeing bars and restaurants surge with activity, while the broader consumer landscape looks increasingly cautious.
The host city effect
Boston emerged as the standout performer. Bar and restaurant transaction volumes in the city surged by as much as 28% during the first two weeks of the tournament.
Across all host cities, restaurant and bar spending climbed 5.3% compared to national averages during July 2026. The New York Fed’s contacts described sales from match-viewing events as “strong,” with hotel occupancy rates also ticking higher as tourists poured in for games.
