Toronto sees modest economic boost from World Cup

Toronto’s World Cup hosting run has brought a modest lift to the city’s economy, according to new spending data, as the final matches in the city near. The city, province and federal government spent $380 million to host six matches in Toronto, and officials had expected more than 300,000 international visitors. Business owners said the event created busy periods, especially for venues showing games during daytime hours in North American time zones. Payment data from Moneris showed hotel spending rose 18% in the first two weeks of the tournament compared with last year, while restaurants and bars increased 3%. Bigbox and grocery sales also rose slightly, but apparel spending fell. Tourism groups say some of the benefits may continue after the tournament, with many international visitors surveyed saying they plan to return to Toronto within two years.