World Cup windfall?
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Though predictions about both soccer games and the economy are notoriously unreliable, some experts now claim that winning the World Cup might actually help lift Spain's recession.
If the European economy is in heavy weather, then Spain's economy is at the centre of the storm. Europe's fifth largest economy is predicted to shrink 0.3 % this year, while unemployment already exceeds 20%.
Yet Iniesta’s fabulous goal might just be able to relieve this grim picture.
Analysts predict that the victory will boost consumer confidence, which is at a record low.
Other champions saw their economies grow in the year they won the World Cup. Argentina, for example, recorded 7.1% growth in 1990, Brasil 2.7% in 2002 and former world champ Italy saw its economy grow by 2% in 2006. Although it is unsure how much of this growth can be attributed to winning the World Cup.
While the rise in domestic consumer spending isn't likely to last long, experts say Spain might benefit from its champion reputation in other ways in the long-term, as the win create a positive image abroad, increasing tourism and international investment.
It seems that in times when octopuses turn into fortune-tellers, soccer players can also turn into economic witch doctors.
