It won't just be fans feeling the joy if Team Canada advances to the next round in the World Cup.
A new analysis from BMO Economics estimates about a $70-million boost to Vancouver's local economy for each additional match Canada plays.
Canada and Switzerland, each with four points, are set for a Group B showdown at BC Place today. Canada would top the standings with either a win or a tie.
The bank says a potential economic bump would be largely tied to bars, restaurants and watch parties — not new tourism inflows, as most matches are already sold out.
BMO Economics suggests the tournament overall is expected to generate between $1.5 billion and $6.5 billion in incremental gross domestic product.
Economist Sal Guatieri says if Canada wins Group B and plays in Vancouver in the round of 32, estimates could skew to the higher end of that range.
"The impact could be more pronounced in Vancouver if Canada’s upcoming matches are played there, as local engagement would likely intensify," Guatieri said.
"Under a scenario where Canada wins Group B and secures at least one, and possibly two, additional knockout-stage matches in Vancouver, and assuming the high end of our estimate for resident hospitality spending, we estimate an additional $70 million contribution to Canadian GDP from local spending in the Vancouver region for each additional match."
Picture Courtesy: THE CANADIAN PRESS/Chad Hipolito
