Toronto Increases World Cup Cost Estimate to $380 Million, Includes Extra Match
The City of Toronto estimates that hosting World Cup matches will cost $380 million, an increase of $80 million from the previous forecast due to the addition of an extra match to the schedule.
Toronto and Vancouver are the Canadian cities selected to host matches during the 2026 World Cup, which will also take place in the United States and Mexico.
In a report released on Feb. 26, the city manager and executive director of World Cup hosting stated that city staff have been reassessing planning assumptions, cost estimates, revenue opportunities, and benefits after FIFA announced that Toronto would host seven matches, including six group stage matches and one knockout stage match.
The $80 million cost increase is attributed to Toronto now hosting a sixth group stage match instead of the originally predicted five. This increase also considers vendor quotes, safety and security requirements, and inflation uncertainties.
The report mentions that hosting costs will be shared by all levels of government, and earlier projections based on five group stage matches anticipated that the World Cup would bring an additional $392 million to Toronto’s GDP.
Mayor Olivia Chow expressed her excitement about the upcoming tournament in the city and emphasized the need to inform the public about the increased costs.
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“Transparency and realism are crucial, especially with the unexpected inflation rates in 2022,” stated Ms. Chow during a press briefing.
She also stressed the importance of ensuring that small businesses benefit from the World Cup and aims to engage as many Torontonians as possible.
