Vancouver businesses hope 2024 Grey Cup will kick off big earnings

The Winnipeg Blue Bombers are set to facethe Toronto Argonauts at B.C. Place on Sunday in the 111th edition of the Grey Cup.

Prior to the kickoff of the CFL's championship game, fans were able to takein a week-long Grey Cup Festival that includedconcerts, parties, zip lines, a drone show andthanks toa longstanding tradition among Calgary Stampeders fansa horse walking into a hotel lobby.

B.C.'s tourism ministry says it expects the festivities to bring in 30,000 out-of-province fans and drive an economic boost of $125 million.

Rob Coppens and his wife travelled to Vancouver even though their beloved Stampeders didn't make it to the big game. Coppens said they have attended more than 20 Grey Cup parties and plan to spend somewhere in the range of $4,000 to $5,000 this year.

"There's a lot of people, we only see them at Grey Cup because they're from different parts of the country," Coppens said. "We all meet up, have beers, cheer, and have a lot of fun."

The arrival of football-loving visitors like Coppens is good news for the city's hospitality industry, says Ian Tostenson, CEO of the B.C. Restaurant and Foodservices Association.

WATCH| B.C. businesses hopeGrey Cup can lead to big earnings:

Vancouver businesses hope for big earnings as Grey Cup nears

14 hours ago

Duration 1:55

Festivities for the 111th Grey Cup are underway. It's Vancouvers first time hosting the biggest game in Canadian football since 2014, and it comes after some lean years for the tourism and hospitality industries. As Liam Britten reports, theyre hoping the big game kicks off a big return.

"The last two years are probably the worst two years we've ever seen," Tostenson said.

"Coming out of the pandemic, we came out quite strong. And then we were hit with inflation and we were hit with high interest rates, and so we lost consumer confidence. So spending is down."

Is it worth itto spendpublic dollars on the Grey Cup?

B.C.'s tourism ministry spent $3.5 million on the Grey Cup Festival, and says it expects it to provide a $125-million economic boost in return.

The City of Vancouver said ithelped pay for the party with some of its $500,000 Sport Tourism Development Fund, but didn't specify how much.

Moshe Lander, a senior lecturer in economics at Montreal's Concordia University, says Grey Cups usually provide modest economic benefits,and costs are relatively low.

"That's a lot more than can be said for the Winter Olympics in Vancouver-Whistler, for the [FIFA]World Cup that's upcoming, [or] for the Invictus Games," said Lander.

Royce Chwin, the president and CEO of Destination Vancouver who was on the Grey Cup committee, argues that spendingpublic dollars on big events like the Grey Cup is worth it.

"If you don't do these things, if you don't animate a city and if you don't give reasons for people to come out and enjoy the city then what drives economic resilience?"

Vancouver has hosted the league's championship game 16 times in the past, most recently in 2014 when the Calgary Stampeders downed the Hamilton Tiger-Cats 20-16.

WATCH| A look back at the B.C. Lions'1964 Grey Cup championship:

A look back at the B.C. Lions winning the 1964 Grey Cup

13 hours ago

Duration 4:41

As we gear up for the Grey Cup this Sunday at BC Place, we're looking back to 1964, the year the BC Lions brought home their first Grey Cup beating the Hamilton Tiger Cats in Toronto.