Hosting FIFA World Cup estimated to cost Toronto nearly $380M, new report finds

The cost of hosting one of the biggest sports tournaments in the world in Toronto is now projected to be nearly $80 million more than initially thought, according to a new city report.  

Toronto and Vancouver are the Canadian cities set to host matches during the 2026 World Cup, which will also be played across the United States and Mexico. While the city has previously said the economic boost as a result of the matches will rake in a significant amount of money, cost projections are continuing to rise. 

When Toronto first pitched the games in 2018, a city report estimated the cost at between $30 million and $45 million. Later in 2022, those cost projections would balloon to about $300 million. 

But in a report released Monday, city staff now estimate the hit to taxpayers will run about $380 million, linking the cost increase to Toronto being awarded a sixth match, instead of the five initially predicted — as well as an evaluation of vendor quotes, safety and security requirements and "inflationary uncertainty."

The city expects to see an economic boost of roughly $392 million in GDP for Toronto — about $1 million less than previous projections — and an additional $456 million for Ontario, according to the report. That will amount to tax revenues totalling nearly $119 million for Toronto and roughly $139 million for the province. The economic activity figures are based off of hosting five games, the report notes, and could continue to change.

City staff have been reviewing planning assumptions, cost estimates, revenue and benefit opportunities after FIFA announced this month that Toronto had been awarded a total of six matches.

"Toronto's hosting of the FWC26 will bring positive economic and cultural benefits for the