Sign In
Register
TORONTO — The 2026 FIFA World Cup will contribute up to $3.8 billion in “positive economic output” for Canada as a host nation, according to a FIFA economic impact assessment.
That amount is split between Canadian gross domestic product, labour income and government revenue with GDP ($2 billion) and labour income ($1.3 billion) getting the biggest chunk. The assessment also foresees “the creation and preservation” of 24,100 jobs across the country over the period from June 2023 to August 2026.
Economic impacts were measured and reported in terms of economic output, GDP, labour income, employment and government revenue, according to the assessment.
The estimates were calculated based on data provided by FIFA World Cup 26 and the Canadian host city committee. They were supplemented by projected or sourced data provided by Deloitte Canada economists.
“You can think of economic output as sales,” said Jeff Harris, founder and leader of Deloitte Canada’s Sport Business Advisory Practice. “That’s the total value of goods and services that are produced and purchased within the time frame.”
Consider the GDP number as income, added Harris.
The assessment says for every Canadian dollar spent on tournament preparations or by visitors attending the competition, it’s estimated the event will contribute $1.09 to GDP. That translates on average to $155 million to GDP — and generating or sustaining 1,850 jobs nationally — for each of the 13 matches to be staged in Canada
The expanded 48-team, 104-match World Cup is being co-hosted by Canada the United States and Mexico. Vancouver and Toronto are Canada’s host cities with 11 others in the U.S. and three in Mexico.
The assessment estimates tournament expenditure — in the form of capital, operational and visitor spending — will total $1.9 billion from June 2023 to August 2026.
The economic assessment says preparing for and hosting the tournament could contribute $1.7 billion in positive economic output in B.C., which is hosting seven matches. That includes boosts to GDP ($980 million), labour income ($610 million) and government revenue ($120 million), as well as the “creation and preservation of” more than 13,700 jobs over the time period under analysis.
In Ontario, where Toronto is hosting six games, the assessment sees $1.3 billion in positive economic output — GDP ($700 million), labour income ($460 million) and government revenue ($100 million). The job figure is more than 8,700.
The assessment cites possible positive economic output of $940 million for the Greater Toronto Area and $1.3 billion for the Metro Vancouver Area.
“Off the pitch, this is so much more than a sporting event,” FIFA vice-president Victor Montagliani, a Vancouver native and former Canada Soccer president, said in a statement. “It’s the biggest sports and entertainment event in history and a once-in-a-lifetime opportunity to showcase our nation on the global stage.”
On the other side of the ledger, cost of staging the tournament has gone up.
In April, Vancouver organizers put the estimated cost of hosting their portion of the event at between $483 million and $581 million, including costs for the city, the province and stadium upgrades. But the B.C. government said the event is expected to generate enough revenue to result in a net cost of between $100 million and $145 million.
In February, the City of Toronto estimated operations and capital costs to be incurred locally in Toronto to be approximately $380 million. The federal government has pledged $104.34 million to the city while Ontario has agreed to pitch in up to $97 million.
—
This report by The Canadian Press was first published Dec. 10, 2024.
The Canadian Press
tc-xmasfund
 
Give to the Times Colonist Christmas Fund to help those in need.
Donate now
© 2024 Times Colonist

source

Post Views: 2