How the World Cup and the Olympics will affect the economy in Los Angeles

How the World Cup and the Olympics will affect the economy in Los Angeles

INGLEWOOD, Calif. – The eyes of the world will be on Los Angeles twice in the next four years.

LA will host eight games during the 2026 FIFA World Cup and then be the center of the sports world when the 2028 Olympics arrive in Southern California.

What economic benefits do such major events bring? Organizers of the 2026 FIFA World Cup say the tournament will bring an estimated $594 million to the local economy. And since the games will be held at SoFi Stadium, Inglewood is expected to see an economic benefit of over $17 million.

“Every event night, we’re busy, we’re full, all floors are open,” said Tiffany Foster, assistant manager of Cork and Batter restaurant in Inglewood. “We’re ready.”

The company has already seen the impact that major sporting events have on its bottom-ranking team. Recently, SoFi hosted two games during the Copa America tournament, attracting fans from all walks of life to the area.

“We had all kinds of guys and posters and everything for Copa. It definitely drew the crowds,” Foster said. “Business was great.”

However, some local groups are opposed to holding these major events in Southern California. Upgrading existing venues comes at a high cost, such as renovating the LA Memorial Coliseum, which will need to install a temporary track for the 2028 track and field competitions. The LA28 organizing committee estimates that this cost will be around $100 million.

“We need to improve a lot of things in our community. A lot of people are homeless, a lot of people don’t have safe housing,” said Gigi Droesch, a member of NOlympics LA. “We could put a lot of the money, a lot of the resources into social housing.”

Despite opposition from some locals, the organizing committees for the 2026 FIFA World Cup and the 2028 Olympic Games will be all hands on deck as the countdown to two of the world’s biggest sporting events takes place in Southern California.

Leave a Reply

Your email address will not be published. Required fields are marked *