It’s just over a year away until Toronto hosts soccer fans and players alike for the FIFA World Cup 2026.
Six matches will hit the Toronto Stadium (BMO Field’s pseudonym for the duration of the event) starting June 12 next year and, according to FIFA, hosting this major international event is expected to rake in about $3.8 billion in economic spinoff for Canada.
For Toronto alone, the city estimates the tournament could inject $392 million into the local economy—plus $118.9 million in tax revenue—and create 3,000 jobs.
However, it will also cost the city a notable chunk of change to hold the games.
The total estimated cost for hosting all six matches is $380 million. While the federal and provincial government have agreed to chip in $104.3 million and $97 million, respectively, the city has to pick up the rest of the bill.
City staff have also previously recommended boosting the existing tax on overnight hotel stays and short-term rentals from six per cent to 8.5 per cent from June 1, 2025 and July 31, 2026, which will raise the prices for out-of-towners looking for accommodations during that time.
While there is still about a year out until the major soccer event comes to the city, CTV News Toronto wants to hear what your plans are for the event.
Do you plan to stay in Toronto while the games are in town? Homeowners — are you considering temporarily putting up your place on AirBnB to take advantage of what are expected to be higher accommodation costs? Are you concerned about getting around the city during the World Cup due to the impact the throngs of visitors could have on the city’s already challenging traffic?
Share your story by emailing us at torontonews@bellmedia.ca with your name, general location, and phone number in case we want to follow up. Your comments may be used in a CTV News Toronto story.
