World Cup generates $228 million in tax revenue for New York

New York generated $228 million in local and state tax revenue from the FIFA World Cup, according to Governor Kathy Hochul. The tournament, which concluded recently, was designed to ensure benefits reached all regions of the state through a strategy involving events, regional grants, and tourism promotion.

"When we brought the FIFA World Cup to New York, we wanted to make sure that all New Yorkers, all communities, and all sectors benefited; these past six weeks have shown that effort was a success," Hochul stated in a release. The state's economic impact projections are expected to be surpassed due to the tournament's success.

MetLife Stadium, temporarily known as New York/New Jersey Stadium during the event, hosted eight World Cup matches, drawing more than 560,000 fans. The first five matches alone resulted in $1.2 billion in direct visitor spending, with a total economic impact of $2.1 billion, according to Hochul's office. This figure does not include the final elimination-round games.

During the period of June 8 to July 4, New York City hotels reported approximately $1.07 billion in room revenue, a 20.6% increase compared to the same period last year. Visitors also stayed in hotels outside the city. The governor also noted that the "Welcome World" Rewards Program generated about 10,000 visits to small businesses across over a thousand establishments, cultural institutions, and community events in New York and New Jersey.

Looking ahead, New York is investing $5 million in soccer fields and youth soccer programs to ensure the World Cup's lasting impact. This investment aims to support young athletes in the coming years, extending the tournament's positive influence beyond the event itself.

“

When we brought the FIFA World Cup to New York, we wanted to make sure that all New Yorkers, all communities, and all sectors benefited; these past six weeks have shown that effort was a success