SELECT LANGUAGE BELOW

World Cup anticipated to provide $3 billion boost to NY, NJ economy

World Cup anticipated to provide $3 billion boost to NY, NJ economy

World Cup Goals for New York and New Jersey

Officials in New York and New Jersey are optimistic that the World Cup soccer tournament will make its return to the U.S. after over 30 years, with projections indicating a $3.3 billion boost next year, as shared in a report released on Monday.

MetLife Stadium, the home field for the Jets and Giants in East Rutherford, New Jersey, is set to host the last eight games, according to the NY/NJ Host Committee.

The tournament will feature an expanded roster of 48 teams, running from June 11 to July 19, and is anticipated to be one of the most extensive in FIFA’s history, attracting around 6 million fans to host cities in the U.S., Canada, and Mexico.

An estimated 1.2 million tourists are expected to flock to the New York and New Jersey area for the event, based on a report from Tourism Economics, a journal linked to Oxford Economics.

Alex Lasley, CEO of the NY/NJ Host Committee, remarked, “From record tourism and global visibility to local investment and job creation, this tournament will help shape the future of our region.”

The report estimates that over 26,000 jobs will be generated throughout New York and New Jersey to facilitate the event.

Other cities in the U.S. set to host are Atlanta, Boston, Dallas, Houston, Kansas City, Los Angeles, Miami, Philadelphia, the San Francisco Bay Area, and Seattle.

Moreover, the host state is projected to see an additional $432 million in state and local tax revenue, according to the analysis.

President Trump has expressed optimism for the upcoming tournament, even as his trade tariffs have stirred tensions with various countries.

“Tension is good,” Trump noted earlier this year during a FIFA Task Force meeting at the White House, referencing the potential effects of his policies on the World Cup.

He added, “It’s going to be even more exciting.”

The last World Cup held in the U.S. was in 1994.

Facebook
Twitter
LinkedIn
Reddit
Telegram
WhatsApp

Related News