British Columbia estimates the total cost for Vancouver to host seven FIFA World Cup games will be up to $729 million.
That’s $105 million more than the province’s previous high-end estimate last June.
Updated projections shared on Friday include $242 million in safety and security costs for the province and the City of Vancouver.
The province said the security costs would evolve depending on world events and other factors, including which teams end up playing in two knockout games.
It was not clear in previous estimates how much security for the FIFA events in Vancouver was expected to cost, and the province faced criticism for not sharing the numbers until just weeks before the tournament was set to kick off.
The updated estimates put the gross costs for the City of Vancouver, including public sector service providers, at up to $412 million.
Stadium-owner PavCo is expected to spend $185 million in total, including for upgrades to BC Place. The province said the stadium capital upgrades were delivered on time and on budget.
The costs for B.C. and other public sector entities are estimated at up to $132 million.
Expected costs for the tournament have risen significantly since Vancouver was initially announced as a host city. In March 2022, the province initially estimated the total costs of planning, staging and hosting five FIFA matches at between $240 million and $260 million.
After it was confirmed in 2024 that Vancouver would host seven matches, the price tag climbed to as much as $581 million.
Tourism Minister Anne Kang noted the latest estimated net costs for hosting the matches have gone down compared to last year, due to higher expected revenues and cost offsets.
The updated net cost is pegged at up to $114 million, compared to projections of up to $145 million last year.
B.C. now expects up to $615 million in revenue and other offsets, up from last year’s estimates of $478 million.
Kang said the lower estimated net cost is due to disciplined planning and strong financial oversight.
But a significant factor in that lower net cost is an additional $100 million from the federal government toward safety costs, bringing total federal contributions to $216 million.
Another major source of revenue comes from an additional provincial tax on short-term accommodation sales in Vancouver, which is expected to bring in up to $260 million between 2023 and 2030.
Minister of Jobs and Economic Growth Ravi Kahlon said B.C.’s estimated GDP growth related to the FIFA events could be close to $1 billion.
He said the projection is more than hypothetical, pointing to Taylor Swift’s three Vancouver concerts in December 2024, which he said added close to $140 million to GDP.
“Taylor Swift is amazing, and it was a big catch for us to get, but the World Cup is one of the biggest events in the world,” said Kahlon.
The province estimates the publicity surrounding the FIFA events could draw about one million additional out-of-province visitors to B.C. in the next five years.
The FIFA World Cup takes place across 16 North American cities from June 11 to July 19.
The province said about 350,000 spectators are expected at Vancouver’s BC Place for the seven World Cup matches. They include Canada vs. Qatar on June 18 and Canada vs. Switzerland on June 24.
The city is also hosting a 28-day FIFA Fan Festival on the PNE Grounds at Hastings Park. The province said it’s expecting up to 25,000 visitors per day at the festival to view matches and concerts.
The net cost for the festival is projected at $26 million. Entrance will be free, but revenues are expected from paid premium seating in the park’s amphitheatre and other sales, such as food and drink.
The province is also providing $1.7 million to support soccer-themed events and live match viewings in three dozen communities. They include seven “Canada Celebrates” events, with additional funding from the federal government, in Fort St. John, Tumbler Ridge, Kamloops, Salmon Arm, Revelstoke, Nelson and Cranbrook.
B.C. Conservative interim leader Trevor Halford on Wednesday slammed the NDP government for waiting to disclose the latest costs estimates until just weeks before the tournament is set to kick off.
“This is a major red flag that they know what that number is, but they are not going to disclose it.”
Halford also questioned the high cost of attending the FIFA matches in Vancouver for B.C. residents.
“I’m disappointed that more British Columbians didn’t have access to affordable tickets,” he said. “I think the government of BC could have played a much larger role in making sure that happened.”
The province announced earlier this month as many as 350 World Cup tickets would be provided by the City of Vancouver to children and youth in B.C. through non-profit organizations.
