The Cost Of: Experts warn New Jersey could lose money hosting World Cup matches
Organizers estimate a $3.3 billion total regional impact, along with $1.3 billion in labor income, more than $430 million in tax revenue and more than a million visitors.
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New Jersey could see limited financial benefit from hosting World Cup events despite large economic projections.
Organizers estimate a $3.3 billion total regional impact, along with $1.3 billion in labor income, more than $430 million in tax revenue and more than a million visitors.
But some economists say those numbers may be too high.
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“Those numbers are extremely high,” said Danielle Zanzalari, an assistant economics professor at Seton Hall University.
She said earlier estimates projected net benefits of $100 million to $400 million per host city.
“There’s no way there’s a billion net benefit just for New Jersey alone,” she said.
Zanzalari also pointed to a study of the 1994 World Cup, which found host locations, including New Jersey, lost about $700 million each.
Some industries are still expected to benefit.
Hotels and restaurants in North Jersey could see an increase in business during the tournament.
Zanzalari said New Jersey’s transit approach could help limit losses.
While New York is covering more transportation costs, she said New Jersey is requiring fans to pay about $100 for train tickets to games.
“I’m really happy with Gov. Sherrill who is saying we’re not going to subsidize fans,” Zanzalari said. “I actually think New Jersey’s policy is great.”
Even so, the state is still expected to face significant costs tied to transit, logistics and security for events at MetLife Stadium and other locations hosting matches, including the final.
