US and Mexico World Cup Exits Cause Ticket Prices to Plunge Dramatically
The early elimination of the United States and Mexico from the World Cup has led to a significant drop in ticket prices, benefiting fans seeking more affordable options. According to CNN and data from secondary ticket marketplace TickPick, prices for the Spain-Belgium match fell by 65% ahead of the game. Before the US loss on Monday, the cheapest ticket on TickPick was about $3,200, but prices dropped to around $1,100 just before the match. Similarly, Mexico's defeat to England on Sunday caused ticket prices to fall by 45%, from nearly $4,000 to $2,000 for the upcoming Miami game.
Brett Goldberg, co-CEO of TickPick, explained that ticket prices for the quarterfinals were initially set with the expectation that both the US and Mexico would advance. Their back-to-back losses led to an immediate and sharp decline in demand for their quarterfinal matches. Canada, the third World Cup host nation, was also eliminated last week, leaving all three host countries out of the tournament.
These exits have negatively impacted businesses like Tom’s Watch Bar, a US sports bar chain with 18 locations. Co-founder and co-CEO Brooks Schaden said that games involving the US and Mexico teams were a major revenue boost, and now he expects World Cup game day revenues to drop by 50%. Mexican fans, in particular, were more lucrative customers, spending more time and money at the bars. Nonetheless, Schaden noted that revenues during remaining tournament games will still be 25% higher than non-World Cup days.
Beer sales in US bars and restaurants have risen 6.4% over the past four weeks, with host cities seeing a 14% increase compared to last year. Massachusetts recorded the highest jump at 23%, followed by the New York metropolitan area at 19%, and California at 14%. Andrew Heritage, chief economist at the Beer Institute, told CNN that while the US team’s run helped build excitement, the tournament’s popularity extends beyond any single team, and the momentum is expected to continue through the final as fans gather to watch matches and share beer.
