Visa Data Shows Spending Spikes in Canadian World Cup Host Cities
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Match day spending rose as much as 24.6% in Toronto and 12.7% in Vancouver, according to new credit card data.
New data from Visa indicates that the FIFA World Cup triggered an increase in consumer spending across Canadian host cities. According to reporting from CBC Toronto, the credit card company found that spending on match days rose by as much as 24.6% in Toronto and 12.7% in Vancouver compared to the same dates the previous year.
Specific peaks occurred during high-profile matchups. Toronto experienced its largest game day spending increase on June 20 during the game between Germany and Ivory Coast. Vancouver saw its peak spending on June 13 when Australia played Turkey. Additionally, a June 18 group-stage match between Canada and Qatar in Vancouver resulted in a 4.9% spending increase.
Toronto and Vancouver hosted a total of 13 games during the tournament. However, other data suggests the economic impact may be relative. CBC Toronto notes that previous data from payment processor Moneris indicated a modest spending boost in Toronto during the early weeks of the World Cup, but found that the increase was significantly smaller than the spending generated by Taylor Swift's Eras tour concerts in the city.