The 2026 FIFA World Cup is finally here and Canada is on a roll! But as the excitement builds on the pitch, we're asking the tough questions: will this massive event actually deliver the economic win that was promised?

In this episode, Mike Moffatt and Sabrina Maddeaux dive into the real costs of hosting the world's biggest party. They break down the billion-dollar price tags, FIFA's business model, and whether taxpayers are getting stuck with the bill while others reap the rewards. (Producer note: This episode was recorded on June 5th, 2026.)

Topics covered:

• The economics of hosting the FIFA World Cup
• Why economists question projected economic benefits
• Public spending on stadiums, security, and infrastructure
• Tourism displacement and local business impacts
• Housing, short-term rentals, and affordability concerns
• FIFA's revenue model and tax treatment
• Transit, traffic, and quality-of-life effects for residents
• Lessons from previous World Cup host countries
• Dynamic ticket pricing and the changing fan experience

If you enjoy thoughtful discussions on housing, infrastructure, public policy, and the economic issues affecting Canada's middle class, subscribe for more episodes from The Missing Middle.

Chapters:

00:00 The World Cup's Economic Myth
00:49 The Benefits Nobody Talks About
03:32 Can Hosting the World Cup Actually Lose Money?
05:11 Why More Tourists Doesn't Mean More Growth
07:00 Who's Really Paying the $1 Billion Bill?
08:23 FIFA's Billion-Dollar Business Model
09:19 Cities Pay, FIFA Profits
10:39 The Tax Breaks You Didn't Know About
12:27 The Hidden Costs for Residents
15:21 What Past World Cups Teach Us
17:07 Are These Games Worth the Price?
17:49 Why World Cup Tickets Are Exploding in Cost
19:22 The People's Game or a VIP Experience?

Research:

BMO Capital Markets -- Canada World Cup GDP boost (up to $6.5B):

https://www.wealthprofessional.ca/news/industry-news/bmo-world-cup-2026-set-to-deliver-up-to-c65-billion-economic-boost-for-canada/392593

The World Cup is expensive, but it’s our turn to pick up the tab

https://www.theglobeandmail.com/sports/soccer/article-the-world-cup-is-expensive-but-its-our-turn-to-pick-up-the-tab/

ProPublica -- 'You do, you pay, we take': how FIFA's host city deals work:

https://www.propublica.org/article/world-cup-2026-host-cities-revenue-houston

CBC -- FIFA/Deloitte economic impact assessment for Canada ($3.8B figure):

https://www.cbc.ca/sports/soccer/world-cup-2026-canada-fifa-economic-benefits-1.7406435 

BNN Bloomberg -- Why economic impact on Vancouver and Toronto may never be known:

https://www.bnnbloomberg.ca/business/economics/2026/05/11/blind-side-why-world-cup-economic-impact-on-vancouver-and-toronto-may-never-be-known/

Bloomberg Tax -- FIFA 2026 World Cup tax demands on host countries:

https://news.bloombergtax.com/tax-management-international/fifa-2026-world-cup-blows-the-whistle-on-complex-tax-risks

CP24 -- Toronto holds transit fares steady; NJ Transit $48M bill; Boston $80 game-day fare:

https://www.cp24.com/local/toronto/2026/04/16/toronto-will-not-hike-cost-of-transit-during-world-cup-as-other-host-cities-announce-big-fare-increases-to-venues/

ESPN -- World Cup ticket sticker shock and dynamic pricing:

https://www.espn.com/soccer/story/_/id/48947095/2026-fifa-world-cup-sticker-shock-ugly-cost-beautiful-game-grand-event

Victor Matheson / Holy Cross -- The Economics of the World Cup (academic; stadium white elephants, tourism overestimates):

https://hcapps.holycross.edu/hcs/RePEc/hcx/HC1805-Matheson_WorldCup.pdf

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/