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
'My family doctor just fired me': Ontario patients frustrated with de-rostering
Dozens of Ontarians are expressing frustration in the province’s health-care system after their family doctors either dropped them as patients or threatened to after they sought urgent care elsewhere.
Solar storm puts on brilliant light show across the globe, but no serious problems reported
A powerful solar storm put on an amazing skyward light show across the globe overnight but has caused what appeared to be only minor disruptions to the electric power grid, communications and satellite positioning systems.
'It was violent': Police tear down U of A pro-Palestinian encampment Saturday morning
Multiple people at the protest camp torn down at the University of Alberta campus Saturday say police's actions against protesters were "violent" and "disproportionate."
'I am angry': Alberta farmers will continue fight over world class motorsport resort
The rolling hills leading to the hamlet of Rosebud are dotted with sprawling farms and cattle pastures -- and a sign sporting a simple message: No Race Track.
Mother's Day movies that pull at ALL the heartstrings
This Mother's Day Weekend, take a look at some of the most emotional movies inspired by moms.
Potentially toxic chemicals hide in our drinking water and countless household objects, and they're not going anywhere
For decades, North Bay, Ontario's water supply has harboured chemicals associated with liver and developmental issues, cancer and complications with pregnancy. It's far from the only city with that problem.
Suspect sought after fatal slashing in downtown Toronto
Police are searching for a suspect in a homicide investigation after a man was slashed in downtown Toronto on Sunday.
Canada Post cracks down on Nunavut loophole to get free Amazon Prime shipping
Amazon's paid subscription service provides free delivery for online shopping across Canada except for remote locations, the company said in an email. While customers in Iqaluit qualify for the offer, all other communities in Nunavut are excluded.
'Increased fire activity' expected for Fort Nelson, B.C., blaze
A wildfire near Fort Nelson, B.C., that forced thousands to flee their homes grew almost 800 hectares overnight Saturday, according to officials.