As 13 games kick off in Toronto and Vancouver in June with Canada co-hosting the 2026 FIFA World Cup, the positive national economic effects are expected to be small, but the regional effects will be "well timed" to offer some economic relief, said TD.
Primarily, TD expects to see a temporary rise in demand and inflation as prices for hotels, restaurants, and recreational activities rise to coincide with the event, as was seen with other tourist draws, like the Taylor Swift Era's concert tour.
"This will be barely noticeable in the overall data, but comes at a time when BC [British Columbia] and Ontario are absorbing the brunt of the negative impacts from trade and energy shocks, said TD, before adding: "In Ontario, GDP [gross domestic product] could see a temporary 0.2% quarter-over-quarter annualized lift. In B.C., the quarterly effect could be as large as 0.5% quarter over quarter."
Although these effects would be transitory and wash out in the annual figure, the growth impulse can serve as a "salve" to temporarily alleviate the pain from the other economic ailments, it said.