Friday, March 31, 2023
HomeFIFAThe City of Vancouver will use a new tool to fund the...

The City of Vancouver will use a new tool to fund the 2026 FIFA World Cup

The 2026 FIFA World Cup is a unique opportunity to support the tourism sector, put British Columbia in the global spotlight and inspire the next generation of players. In 2022, around 1.5 billion people around the world watched the final of the FIFA World Cup™.

Vancouver is one of 16 host cities across North America. The city is in the early stages of event planning and the 2026 FIFA budget is in line with the city’s current estimates. The 2026 budget will continue to be refined as planning progresses, and the city will continue to work with the province and other authorities to cost-effectively host the event.

budget development

In March 2022, the Province estimated the total cost of planning, staging and hosting the 2026 FIFA World Cup matches to be approximately US$240-260 million. This included the cost of both City and BC Place stadiums. The expected cost to the city was estimated at the time to be about half that amount, based on a very preliminary estimate of hosting needs.

After further analysis of all hosting commitments, including initial requirements set by FIFA, several site visits conducted and further operational planning, a more detailed development of FIFA’s 2026 budget, including acknowledgment of a significant inflationary outlook since March 2022, was completed. It has been determined that the city’s additional spending related to the 2026 FIFA World Cup will be approximately $230 million. This includes the planning, execution and hosting of the Cup, but not the cost of the BC Place stadium.

These estimates are subject to change as details are confirmed during the planning process and further information is received from FIFA. The city and province will provide annual public reports on actual spending and new MRDT revenue for additional major events.

Obligations as a host city of the FIFA World Cup

By hosting the 2026 FIFA World Cup, the City of Vancouver is required to provide many services above and beyond normal city service levels. An overview of the cost categories driving the city’s additional spending is included below, but these initial estimates are subject to change as planning progresses.

Commitment Costs – $230 million

Security – $73 million
Contingencies, including inflation – $52 million
Venues – $40 million
FIFA Fan Festival – $20 million
Host City Office, Administration and Volunteer Services – $15 million
Host City Decorating and Branding Obligations – $8 million
Traffic and stadium zone management and services – $14 million
Insurance – $8 million

TOI.NEWS FIFA Click here

Follow and Subscribe to Our YouTube, Instagram and Twitter – TwitterYoutube and Instagram.

News & Image Credit – Click Here

Hurry Up!

TOI News TOI.News
TOI News TOI.News
We are TOI.News and we provide Top Latest Breaking News of Entertainment, Game Guide, Sports News, etc.

Leave a Reply

- Advertisment -

Most Popular

Recent Comments