Euros to deliver £2.75 Billion spending spree - is that money that would have been saved or money that would have been spent elsewhere?

[cakeorwine]

Beer and new TVs: Euro 2024 ‘to fuel £2.75bn spree for UK shops and pubs’ | Hospitality industry | The Guardian

This happens whenever big events take place.

Yes - people will spend money on buying new things, buying beer etc

But is it a spending boost? Or is it money that would have been spent on say on other stuff - but instead got spent on the Euros?

Or is it money that would have been saved instead?

Good for some sectors but an effect on other sectors?