Hosting Vancouver's FIFA World Cup games could cost half a billion dollars
Hosting seven games in Vancouver during the 2026 FIFA World Cup could cost more than half a billion dollars, according to an updated estimate provided Tuesday.
The "core cost" of hosting is now pegged at between $483 million and $581 million – approximately double the original range provided when Vancouver was named a host city two years ago.
Inflationary pressures and updated FIFA hosting requirements contributed to the increased costs, B.C.'s Ministry of Tourism, Arts, Culture and Sport said.
Officials also originally anticipated hosting five games in Vancouver, not seven.
The government is expecting to offset much of the expenses with $116 million in federal funding, increased tax revenue over several years, and other sources, putting the net cost at between $100 million and $145 million, according to the latest estimate.
"These seven matches are expected to attract more than 350,000 soccer fans," Tourism Minister Lana Popham said Tuesday. "These fans are going to be eating, they're going to be staying, and they're going to be exploring British Columbia – before, during and after this tournament."
The ministry is also anticipating more than one million additional out-of-province visitors over a five-year period following the World Cup, with up to $1 billion in additional tourism spending.
Not everyone is convinced the expected benefits will materialize – including Moshe Lander, a sports economist with Concordia University, who described the event as a "very expensive two-week party."
"It doesn't justify the economic benefits," Lander said. "Vancouver is a global city. It's beautiful, it attracts tourists, it's always full – it can't be more full by hosting a few World Cup games."
It's common for governments to massively overstate benefits and underestimate costs when contemplating these kinds of hosting duties, the economist said – but ultimately, whether the World Cup is worth the price is up to taxpayers.
"This is no different than saying you want to use your public funds to build a new park or a new arena," Lander said. "That's what taxpayers are asked: How do you want to use your tax money?"
Approximately half of the estimated costs are falling on the City of Vancouver, which is currently expected to contribute at least $246 million.
Mayor Ken Sim – a soccer fan who flew to Qatar for the 2022 World Cup – described the event as a "massive opportunity" to "highlight the best city on the planet," which will contribute to Vancouver's reputation as a major tourism and events destination for decades to come.
"We couldn't be more excited," Sim said. "I think it's going to be great for the city, the province and the country."
The provincial government is contributing between $237 million and $305 million, the majority of which will come from the Crown BC Pavilion Corporation that owns and operates BC Place.
The venue will be required to undergo several upgrades, including to the dressing rooms, broadcast facilities and premium hosting spaces.
Much of the revenue offsetting the costs comes from B.C.'s Major Events Municipal and Regional District Tax of 2.5 per cent on traveller accommodations, which came into effect in February 2023 and is expected to bring in $230 million over seven years.
Officials acknowledged there are factors beyond their control that will impact the amount of money generated through the World Cup – including which teams ultimately are scheduled to play in Vancouver, and whether FIFA makes further demands when it comes to venue requirements.
With files from CTV News Vancouver's Penny Daflos
Correction
A previous version of this story reported that B.C. was expecting one billion additional visitors over five years instead of one million. CTV News regrests the typo.
CTVNews.ca Top Stories
Feels like mid-30s in parts of Canada, while other areas expecting snow
Anything is possible this week, as far as Canada's weather is concerned, with forecasts ranging from scorching heat in some parts of the country to rain and snow in others.
BREAKING Canada's inflation cools to 3-year low of 2.7%, in boost for rate cut bets
Canada's annual inflation rate slowed to a three-year low of 2.7 per cent in April, matching expectations, and core measures continued to ease, data showed on Tuesday, likely boosting chances of a June interest rate cut.
1 dead, others injured after London-Singapore flight hit severe turbulence, Singapore Airlines says
One person has died aboard a London-Singapore flight that encountered severe turbulence, Singapore Airlines said Tuesday. The plane was diverted to Bangkok, where emergency crews rushed to help injured passengers amid stormy weather.
Independent stores and grocery alternatives see sales boost amid Loblaw boycott
As the month-long boycott of Loblaw-owned stores wears on, small independent food retailers and alternative grocery options say they're seeing a boost in traffic and sales.
What is BORG drinking, and why is it a dangerous trend? An expert explains
If you've been to a party lately and haven't seen someone drinking a BORG, you're likely not partying with college students.
How to check the Air Quality Health Index and assess your health risks
As we enter another wildfire season, Environment and Climate Change Canada is advising people to pay attention to air pollution levels and check the Air Quality Health Index – especially on smoky days.
Cardinal Lacroix cleared after investigation ordered by the Pope
The Vatican has announced that the investigation it commissioned into allegations of sexual touching against Cardinal Gerald Cyprien Lacroix did not confirm any act constituting misconduct or abuse on the part of the Vatican.
Trudeau making 'Team Canada' pitch in visit to Philadelphia
Prime Minister Justin Trudeau is in Philadelphia today, on his first trip south of the border since his government launched a new 'Team Canada' charm offensive in the United States.
Oilers win Game 7 over Canucks, advance to Western Conference Final
The Edmonton Oilers weathered a late Vancouver Canucks charge on Monday night, beating the hosts 3-2 to win their seven-game second-round playoff series in the decisive showdown.