Mega events never produce much economic sense.
World Cup economic data out of Toronto suggests that the big event, the 2026 Men’s World Cup of soccer, has not produced the windfall of loonies that was promised by FIFA’s Gianni Infantino and his associates when they lobbied the United States, Canada and Mexico to make a bid for the matches. FIFA takes the lion’s share of the World Cup revenue, taxpayers are responsible for politicians’ grandiose promises of financial success. According to a report by Canada’s Parliamentary Budget Office it is estimated that Canada’s price tag was $1 billion Canadian more than $700 US for games held in Toronto and Vancouver, British Columbia. The Toronto data is just preliminary and the city may never release the real cost of hosting a piece of the 2026 World Cup. Taxpayers in Toronto spent $380 million Canadian or $268 million US to host six games. The seven matches held in Vancouver cost taxpayers about $578 million Canadian or around $407 million US.
International visitors spent 57 per cent more at restaurants but overall restaurants and bars saw just a three per cent increase in business. Sales at big box and grocery stores went up four and six per cent, but spending on apparel declined by five per cent. Hotels in Toronto saw an increase in debit and credit card spending of 18 per cent during the first two weeks of World Cup action, compared with the same period in 2025. But here is a problem. The hotel rates may have risen but generally hotels are not locally owned and a lot of that revenue returns to a home office. Hotel employees are not making more money during the event, some employees may get extra tips.. If there is a benefit, the World Cup made people come together. Mega sports events make no financial sense to host cities.
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