Photo credit: Toronto Star
Like with any major event in Toronto, a major influx of visitors can be expected in the city.
The Toronto Sun reports that with the FIFA World Cup 2026 right around the corner, it’s understandable that Toronto residents and businesses are looking for ways to capitalize on the crowd and make some extra cash.
“For businesses, the opportunity is similar to any major event coming to the city, with bars, restaurants, and retailers looking to engage with increased foot traffic and demand,” Josie Van Ryswyck, a senior underwriter with Markel Insurance, told the Toronto Sun.
“With that comes a range of risks to consider, and commercially licensed brokers play a key role in helping small business owners put appropriate risk management strategies in place,” she noted.
There are those considering renting out spaces, such as spare rooms or condos, but with that comes possible pitfalls, particularly for those who have never done anything like that before and aren’t necessarily aware of what having short-term rentals could mean.
“For those looking to take advantage of this income opportunity with FIFA coming to town, it is important to check your municipal bylaws on running an Airbnb,” Kelly Ho, financial planner and partner at DLD Financial Group, explained to the Sun.
There are other ways people will be working to cash in on one of the biggest events Toronto has ever seen – but in much more unsavoury ways.
“High-profile events and a tourism surge create ideal conditions for familiar fraud and cybercrime,” Ed Rawem, cyber, tech and fintech lead at Markel Canada, said.
“The complexity of FIFA, spanning multiple sectors and geographies, creates a wide attack surface for a diverse range of threat groups with differing objectives – from petty cybercrime to ticketing or travel, to payment diversion and vendor impersonation, to nation-state and hacktivist groups looking to create widespread disruption and public challenge,” Rawe said.
Toronto’s BMO Field is set to host five group-stage matches and one round of 32 knockout game, the first being on June 12, featuring Group B’s Canada and Bosnia and Herzegovina.
Other matches include Ghana vs Panama (Group L) on June 17, Germany vs Cote d’Ivoire (Group E) on June 20, Croatia vs Panama (Group L) on June 23, Senegal vs Iraq (Group I) on June 26 and the round of 32 featuring Group K vs Group L on July 2.
