New Vancouver tax intended to chip away at FIFA World Cup costs
The price of hosting the FIFA World Cup is rising in Vancouver, and the province is using a new tool to help cover the costs.
In the fall, the city requested a temporary bump to the Municipal and Regional District Tax (MRDT) on short-term accommodations to raise funds.
Starting on Wednesday, overnight visitors to Vancouver will be required to pay an additional $2.50 on each $100 paid on a room.
“We’ve had FIFA come and do an initial assessment, and there’s going to be some work done on BC Place, and we have to look at security issues, of course, which is always an issue, and inflation,” said B.C. Finance Minister Katrine Conroy.
The event was initially slated to cost upwards of $260 million, and the province expects the new tax could garner $230 million over the next seven years.
Conroy told CTV News that after consulting with the City of Vancouver, Destination Vancouver and the local accommodation sector, they agreed to the 2.5 per cent tax on short-term accommodation sales.
The province says communities can apply for the tax for dedicated, time-limited support for eligible major, internationally recognized events that help bolster international visitation to the province.
“We’re so excited to be hosting the FIFA World Cup 2026, one of the world’s largest sporting events, here in Vancouver,” said Ken Sim, the mayor of Vancouver.
“Vancouver has welcomed the world on many occasions, but this global celebration of soccer and national pride is an extraordinary opportunity. The economic impacts and benefits to Vancouver will be felt in the leadup to the FIFA World Cup, throughout the event and long after the final whistle blows in 2026.”
Destination Vancouver is expecting the tournament will attract more than 250,000 visitors to the city, with approximately 50 per cent of them coming from outside of Canada and the United States.
Vancouver is among a group of North American cities that will host games in 2026, sharing the Canadian stage with Toronto.
CTVNews.ca Top Stories
B.C. tenants evicted for landlord's use after refusing large rent increase to take over neighbouring suite
Ashley Dickey and her mother rented part of the same Coquitlam duplex in three different decades under three different landlords.
MPP Sarah Jama asked to leave Ontario legislature for wearing keffiyeh
MPP Sarah Jama was asked to leave the Legislative Assembly of Ontario by House Speaker Ted Arnott on Thursday for wearing a keffiyeh, a garment which has been banned at Queen’s Park.
Mountain guide dies after falling into a crevasse in Banff National Park
A man who fell into a crevasse while leading a backcountry ski group deep in the Canadian Rockies has died.
Body of Quebec man who died in Cuba found in Russia, family confirms
A Montreal-area family confirmed to CTV News that the body of their loved one who died while on vacation in Cuba is being repatriated to Canada after it was mistakenly sent to Russia.
Expert warns of food consumption habits amid rising prices
A new survey by Dalhousie University's Agri-Food Analytics Lab asked Canadians about their food consumption habits amid rising prices.
Saskatchewan isn't remitting the carbon tax on home heating. Why isn't my province following suit?
After Prime Minister Justin Trudeau said the federal government would still send Canada Carbon Rebate cheques to Saskatchewan residents, despite Saskatchewan Premier Scott Moe's decision to stop collecting the carbon tax on natural gas or home heating, questions were raised about whether other provinces would follow suit. CTV News reached out across the country and here's what we found out.
Montreal actress calls Weinstein ruling 'discouraging' but not surprising
A Montreal actress, who has previously detailed incidents she had with disgraced Hollywood producer Harvey Weinstein, says a New York Court of Appeals decision overturning his 2020 rape conviction is 'discouraging' but not surprising.
RCMP officers had no legal authority to enter man's home, make arrest: B.C. court
A B.C. man has been found not guilty of assaulting two RCMP officers – with the court finding he was resisting an "unlawful entry and arrest" in his home before he was tasered, taken down and hauled away in handcuffs.
'Deep ignorance': Calls for Manitoba trustee to resign sparked after comments about Indigenous people and reconciliation
A rural Manitoba school trustee is facing calls to resign over comments he made about Indigenous people and residential schools earlier this week.