World Cup economic impact takes shape as fans flood Toronto streets

Toronto is currently hosting several Men's World Cup matches, drawing thousands of international fans to the city and creating a vibrant atmosphere downtown. Businesses, particularly in the hospitality sector, are observing the influx of visitors, with many noting the palpable energy.

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It’s amazing energy in the city.

However, the anticipated surge in hotel bookings has not fully materialized. Sara Anghel, president and CEO of the Greater Toronto Hotel Association, reported that June occupancy rates are tracking below last year's levels, estimating around 65 percent. She noted that June is typically a busy month for Toronto, and the presence of the World Cup hasn't significantly boosted occupancy as much as some might have expected.

Anghel mentioned that some hotel rooms initially reserved were released back onto the market after FIFA released additional tickets closer to the tournament. Despite the current unevenness, she remains optimistic, expecting July and August to perform very well, potentially balancing out any shortfall in June.

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We have seen an uneven June. There are days where it’s a little better and days where it’s not as great.

Some local businesses are already reporting benefits. Restaurant manager Callam Hald noted a significant increase in customers, with lines forming even before game times. Anghel also observed a noticeable boost to restaurants, patios, and hotel gathering spaces, with areas like Front Street bustling with fans.

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June is already a really busy month in Toronto.

Mayor Olivia Chow highlighted the global attention Toronto is receiving due to the tournament, stating, "The entire world, they have their eyes on Toronto." While the full economic impact remains to be seen and may not be clear until the tournament concludes, the event has undeniably brought international attention and crowds to the city.

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May did well and we expect July and August will do very, very well.