Copa America 2024: Colombia saw a win in business

Argentina won a record 16th Copa America title, defeating Colombia 1-0 thanks to a goal from Lautaro Martinez in extra time.

Even though Colombia lost the tournament, it has seen a win over Colombia’s businesses.

During Colombia’s  matches, shopping centers were crowded with people as a result of the enormous screens that are set up to broadcast the games.

Some shopping centers reported that attendance in recent Colombia matches doubled as compared to regular days, particularly on weekends.

On July 14, during the final, which saw one of the busiest days of the year for bars, restaurants, and entertainment venues, business owners had a bumper profit, the source reported.

The data maintained by different trade associations shows that sales grew by an average of 10% to 25% over the three weeks that the Copa America was held, from June 20 to July 14.

After a challenging year for the industry, this signifies a noteworthy rebound. As of last May, the retail industry had been losing money for 17 months, according to data from the National Federation of Merchants (FENALCO), which continues to worry a lot of business owners in Colombia.

According to data provided by the Asobares guild, which represents bars and restaurants across the country, average growth is roughly 18% nationwide, with much higher peaks in certain cities.

“This has been very beneficial, as we closed a rather challenging first half of the year for our sector,” Camilo Ospina, the guild’s president said.

Additionally, Ospina notes that almost 75% of their members report higher sales during Copa America matches, particularly when Colombia participates.