Toronto's World Cup hosting generated little economic gain despite $380 million cost

Toronto's official FIFA World Cup hosting duties have ended with little economic gain for the city, according to new data.

Spending at Toronto restaurants and bars rose by just 3 per cent between June 12 and 26 — the first two weeks of the World Cup — compared with the same period last year, according to payment processing company Moneris. Among international visitors, spending rose 34 per cent, but overall gains were modest.

The contrast with Taylor Swift's Eras Tour is striking. When Swift visited Toronto in November 2024, overall restaurant spending jumped 12 per cent with debit and credit cards, while international visitors spent 57 per cent more. Hotel spending during the World Cup rose 18 per cent, more comparable to the Eras Tour's 16 per cent boost.

Canada's 2026 World Cup hosting came with a price tag of $1.066 billion, according to the Parliamentary Budget Office. Toronto taxpayers dished out $380 million to host six games, while Vancouver's seven matches cost about $578 million.

Former Toronto mayor David Miller, now managing director of the C40 Centre, an international urban policy think-tank, said the model is inherently skewed. "They're sharks," he said of major sports organizations like FIFA. "They really do ensure that every single cost is passed on to the hosts." But Miller acknowledged the intangible benefit: "They're fabulous for the city, and people love them when they're going on. It creates tremendous community, excitement and joy."

Tyeshia Redden, an assistant professor of urban planning at the University of Toronto, noted these events are "always stacked in the dealer's favour." Montreal famously crunched the numbers and decided not to come on board as a World Cup host due to the costs and to avoid disrupting the city's vibe.