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
Which Canadian cities have the highest and lowest grocery prices?
Where you live plays a big factor in what you pay at the grocery store. And while it's no secret the same item may have a different price depending on the store, city or province, we wanted to see just how big the differences are, and why.
U.S. says Israel's use of U.S. arms likely violated international law, but evidence is incomplete
The Biden administration said Friday that Israel's use of U.S.-provided weapons in Gaza likely violated international humanitarian law but wartime conditions prevented U.S. officials from determining that for certain in specific airstrikes.
Swarm of 20,000 bees gather around woman’s car west of Toronto
A swarm of roughly 20,000 bees gathered around a woman’s car in the parking lot of Burlington Centre.
'State or state-sponsored actor' believed to be behind B.C. government hacks
The head of British Columbia’s civil service has revealed that a “state or state-sponsored actor” is behind multiple cyber-security incidents against provincial government networks.
Mother assaulted by stranger while breastfeeding baby in her car: Vancouver police
A person was arrested in East Vancouver Thursday after allegedly entering a car while a mother was breastfeeding her four-month-old boy.
More than half the Canadians once detained in Syrian camps for suspected ISIS family members have returned home
A total of 29 Canadians have been freed from detention camps in northeast Syria and brought back to Canada since human rights advocates began lobbying for their release years ago.
Rare severe solar storm Friday could bring spectacular aurora light show across Canada
A rare and severe solar storm is expected to bring spectacular displays of the northern lights, also known as aurora borealis, across much of Canada and parts of the United States on Friday night.
Canada abstains from Palestinian UN membership vote but supports two-state solution
Canada was one of 25 countries that abstained from a United Nations vote on Palestinian membership that passed with overwhelming support on Friday.
Amish youth experience a rite of passage called Rumspringa. It’s not what you might think
The idea of “Rumspringa” has a specific spot in the American imagination. A rite of passage for young people in some Amish communities, Rumspringa is seen by most outsiders as a wild time away from strict Amish rules, when teenagers can experiment with the modern vices of the world.