Report finds 63 per cent of B.C. businesses don’t expect any revenue impact from World Cup

A new survey finds 63 per cent of businesses in B.C. don’t expect any revenue impact from the FIFA World Cup.

A new survey from Merchant Growth finds 63 per cent of businesses in B.C. don’t expect any revenue impact from the FIFA World Cup.

Hash Aboulhosn, the organization’s chief growth officer, says some business owners may not be prepared to welcome fans or keep up with demand as they grapple with rising costs and a shaky economy.

“It’s not because they weren’t aware that FIFA was coming,” Aboulhosn says. “In many cases, it was because of a fear that if they did make investments in their business, they wouldn’t necessarily materialize.”

Because businesses are already feeling the pinch, some are uncertain as to whether they will see profit boosts.

“We’ve been buffeted by wave after wave of challenge for COVID, then the trade war and now this war in the Middle East that has raised prices,” says Aboulhosn.

The owner of Memphis Blues, a restaurant on Commercial Drive, says his staff is busy preparing for the games and he is confident he will see a boost to his bottom line.

“I have limited seating. When I’m full, I’m full, and the games are going to be on. You know, we’re going to have a good time,” says owner George Siu.

Siu adds he is planning to ensure the restaurant is fully staffed and equipped to handle the demand, saying businesses have had ample time to do so.

“I mean, everybody’s going to have that spike during those games, but it’s also how you run that room during that time,” he says. “Having good servers on, your kitchens efficiently run, your bars going. That helps.”

‘I don’t think it’s going to be a magic bullet’

Businesses in Vancouver’s Mount Pleasant neighbourhood may not be as lucky. The local business improvement association says World Cup fever hasn’t made its way to the area.

“It’s really hard to get excited about something that, although its only a few kilometres away, it seems that the focus is entirely on the downtown core,” says Mount Pleasant BIA president Neil Wyles.

Wyles adds there’s a lot of “uncertainty” for businesses in the area.

“I don’t think anyone has bet the farm on this,” he says. “I don’t think that it’s going to be a magic bullet.”

Wyles says Vancouver hosting World Cup games is different from hosting the Olympics.

“It’s not 12 days in a row with multiple events lined up each day. It’s one game times seven over a month,” he says.

Despite the challenges for businesses, the survey finds consumers are planning to go out and spend money.

“I think nationally people expected to spend about $50 per person going out and that varied a little by generation,” said Aboulhosn.

Merchant Growth says Gen-Z plans to spend, on average, $41 per visit, Millennials $51 per visit, Gen-X $60 per visit, and Baby Boomers $56 per visit.

The first match at B.C. Place will kick off June 13.