Visa Data Shows Spending Spikes During World Cup Match Days
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Credit card data reveals spending increases in Toronto and Vancouver, though previous reports suggest the boost may have been modest compared to other major events.
New data from Visa indicates that the FIFA World Cup drove a rise in consumer spending across Canadian host cities. According to reporting from CityNews Toronto, match day spending increased by as much as 24.6% in Toronto and 12.7% in Vancouver compared to the same dates the previous year.
Specific peaks were noted in both cities. Toronto experienced its highest game day spending increase on June 20 during the match between Germany and Ivory Coast. Vancouver saw its peak on June 13 when Australia played Turkey. Additionally, CityNews Toronto reports that spending in Vancouver rose by 4.9% on June 18 when Canada faced Qatar in a group-stage match.
While the Visa data highlights these increases, other reports offer a different perspective on the scale of the economic impact. CityNews Toronto notes that data from payment processing company Moneris previously suggested Toronto saw only a modest spending boost during the tournament's opening weeks, concluding that the impact was significantly smaller than the spending seen during Taylor Swift's Eras tour concerts in the city.
Toronto and Vancouver hosted a total of 13 games during the tournament, which concluded last month.