There is no doubt the excitement is already here for the FIFA World Cup 2026. We\u2019re just one week away from the U.S. National Men\u2019s Soccer team taking the field for the first match right here at So-Fi Stadium.<\/p>\n
Having our nation\u2019s team start their World Cup quest in Los Angeles was no small feat \u2013 our local organizing committee worked hard to put Los Angeles in this unique position in front of a global stage. This committee, which includes top executives in sports, entertainment and finance, is keenly aware of the lasting value and growing positive impact that soccer and other sports are having on the region\u2019s economy. <\/p>\n
A recent Bank of America Global Research report, one of the most comprehensive studies on the impact of World Cup and sports so far, details many eye-opening figures:<\/p>\n
\u2022 Los Angeles is ground zero for the biggest sporting event ever staged.\u00a0The 16 host cities collectively represent $11 trillion in GDP \u2013 and LA\u2019s $1.4 trillion economy is second only to New York among host markets.<\/p>\n
\u2022 This tournament could add $41 billion to global GDP and\u00a0185,000 U.S. jobs.\u00a0<\/p>\n
\u2022 A FIFA-WTO study projects the 2026 World Cup could generate up to $80 billion in gross global output, with the U.S. alone accounting for $30.5 billion in economic output and $17.2 billion in GDP. For context, the 2024 Paris Olympics generated an estimated $7-12 billion for the Paris region.<\/p>\n
We, too, are significantly aware of this potential impact. As the Official Bank of FIFA World Cup 2026, Bank of America\u2019s goal is to help local businesses and communities leverage the\u00a0tremendous economic\u00a0benefits, as well as\u00a0help\u00a0bring lasting memories to local fans. \u00a0<\/p>\n
As a matter of fact, the games are a $1 billion opportunity for our region\u2019s economy \u2013 if companies maximize the opportunities, seize the plays.<\/p>\n
That\u2019s why our bankers \u2013 as the nation\u2019s top small business lender \u2013 are advising businesses how to take advantage of marquee events like this one, as well as the drumbeat of other leading sports events headed to Los Angeles \u2013 from next year\u2019s Super Bowl to the Summer Olympics in 2028 and then Women\u2019s World Cup in 2031.<\/p>\n
One important pro tip we coach our clients \u2013 and for any local business in a Host City \u2013 is to make sure your payments infrastructure is in top form.<\/p>\n
\u2022 Be ready to process much larger volumes of payments quickly and securely.<\/p>\n
\u2022Make sure you can accept international currencies and digital wallets.<\/p>\n
\u2022Upgrade payment terminals to accept tap-to-pay tools with better fraud protections built in; and \u2022Train staff to keep checkout lines moving \u2013 this may involve hiring additional temporary employees to meet the demand.\u00a0<\/p>\n
Another part of this strategy is to see the bigger picture \u2013 the entire field \u2013 in terms of the World Cup\u2019s potential impact and reach. Go beyond the numbers to community engagement. <\/p>\n
If you are a local business looking to score from these games, look around to see how best to build your brand by connecting with the community. Be part of the World Cup excitement at local restaurants or block parties, engage meaningfully with the neighbors in new ways \u2013 they just might become customers.<\/p>\n
For Bank of America, one of our goals is to help create a lasting legacy long after the whistles stop blowing, recognizing the importance of how sports builds character and confidence in our youth and brings entire communities together.<\/p>\n
So far, this has looked like building new soccer fields in local communities and hosting free sports clinics for youth that instill life skills as well as athletic skills. It\u2019s sponsoring the U.S. Men\u2019s Soccer team fan fest experience in Venice and even being a key player in leading the national effort to put soccer into every school in America by 2030 \u2013 a program that kicked off right here in Altadena.\u00a0<\/p>\n
Indeed, the challenge for the local business community will be to keep looking downfield and continue preparing for the series of big events ahead \u2013 it is Los Angeles, after all, the epicenter not just of global events but of opportunities as well.<\/p>\n
All of this work is well underway, and L.A.\u2019s businesses have been getting in champion game shape. Fans will come to matches and related events to spend money in and around stadiums \u2013 at nearby restaurants, bars, hotels and retailers \u2013 all of which boosts the local economy and creates jobs.<\/p>\n
They will be looking for an experience and a city that welcomes them. The payoff will be incredible. <\/p>\n
Raul Anaya is the president of Bank of America\u2019s Los Angeles operation.<\/p>\n","protected":false},"excerpt":{"rendered":"There is no doubt the excitement is already here for the FIFA World Cup 2026. We\u2019re just one…\n","protected":false},"author":2,"featured_media":351388,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[30748,48,52,51,47,50,49],"class_list":["post-351387","post","type-post","status-publish","format-standard","has-post-thumbnail","category-los-angeles","tag-bank-of-america","tag-la","tag-la-headlines","tag-la-news","tag-los-angeles","tag-los-angeles-headlines","tag-los-angeles-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/351387","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/comments?post=351387"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/351387\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media\/351388"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media?parent=351387"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/categories?post=351387"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/tags?post=351387"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}