Vancouver believes in Fifa World Cup despite doubling of costs

Published Wed, May 1, 2024 · 08:19 AM

Canadian officials doubled the estimated costs of hosting seven Fifa World Cup games in Vancouver in 2026 – but they’re betting the soccer bonanza will still pay off.

Gross costs are now estimated between C$483 million (S$478.6 million) and C$581 million, the province of British Columbia said on Tuesday (Apr 30). Preliminary estimates two years ago only went as high as C$260 million, with two additional matches and inflation accounting for some of the increase.

The province expects to offset a lot of those expenses. That includes a C$116 million contribution from the federal government and C$230 million from a new tax imposed on short-term accommodations. That levy echoes one the Whistler ski resort used to defray expenses for the 2010 Winter Olympics. All in, the province expects its net costs to be no more than C$145 million.

The 2026 World Cup will be played in the US, Mexico, and Canada. Vancouver said it’s the biggest event it’s ever hosted. Money will go to upgrading the city’s 54,500-capacity BC Place Stadium, built in 1983, as well as for public safety and security, team training sites, decorations, traffic and stadium management.

Officials anticipate their efforts will yield more than C$1 billion additional gross domestic product for the province by 2031, with the objective of bringing in an additional million visitors. Income and tourism benefits will depend on which teams are playing, and group matchups won’t be known until late 2025.

Vancouver expects 350,000 spectators to visit the stadium, which is owned by the province’s BC Pavilion, for five group stages and two knockout games, of the tournament’s total 104 matches. Another six will be hosted in Toronto, with the rest in the US and Mexico. The city set for the most matches is Dallas, with nine, while New Jersey’s MetLife Stadium is scheduled to host the final. BLOOMBERG