England's rugby exit: Not a total disaster

Anmar Frangoul | Special to
David Rogers | Getty Images

In the aftermath of a crushing 13-33 defeat to great rivals Australia, downcast England captain Chris Robshaw told journalists, "We feel we let the country down today."

Nearly a week on from the England rugby team's disastrous exit from the Rugby World Cup, businesses are still digesting the impact of the host nation's poor performance on the pitch.

Before England even took to the field in their do or die match last Saturday Alex Edmans, professor of finance at the London Business School, told the Guardian newspaper that £3 billion ($4.6 billion) could be wiped off the stock market in just one day if England went out of the tournament.

Rugby World Cup economic winner

With the host nation out, it was thought that pubs could well lose trade. According to the British Beer and Pub Association (BBPA), however, that's not the case.

"The Rugby World Cup is still a huge positive for the trade," Brigid Simmonds, chief executive of the BBPA said in a release.

"Rugby fans will still be flocking to pubs in huge numbers," Simmonds added. "They are best place to savor the big match atmosphere apart from actually being there; and we believe that the trade will enjoy a boost of 25 million extra pints of beer sold, over the tournament."

Simmonds went on to say that the huge number of overseas visitors was boosting the industry.

In terms of tourism, England's official tourist board was equally confident that poor performances on the pitch would do little harm off it.

"The Rugby World Cup 2015 in England is predicted to generate up to £2.2 billion of output into the economy with 2.3 million spectators traveling, sightseeing and exploring the country," VisitEngland Chief Executive James Berresford told CNBC via email.

"As disappointing as it is for English Rugby enthusiasts that England has been knocked out of the competition, we are a proud host nation," he added.

"I doubt this will affect the number of people – including over 460,000 international visitors – who are enjoying the atmosphere of the tournament, enjoying the games in a pub, or visiting the fantastic destinations and fanzones that England has to offer."

Ahead of England's match tomorrow night against Uruguay in Manchester – which many see as a dead rubber – Berresford went on to add that the tournament had broken records in terms of tickets sold and that venues "have been packed."

"The England game tomorrow night is a sell-out, the quarter final that England would have been due to play still remains a sell-out, as do the two semi-finals, the bronze and the final itself."

"We're still confident of the enormous impact and benefit Rugby World Cup 2015 will have on tourism and the wider economy."