Mexico is preparing to make history. In 2026, it will become the first country to host three editions of the world’s most-watched tournament: the FIFA World Cup. But this time, it’s not just the ball that will be rolling—so will billions of dollars in investment, consumption, tourism, and opportunities for those who know where to look.
An analysis by GBM outlines how this World Cup will be played not only on Mexico’s fields but also on its stock exchanges.
A Historic World Cup—On and Off the Pitch
The countdown continues for the FIFA World Cup hosted by Mexico, which will welcome the tournament for a third time. In 1970, the country saw Pelé win his third title, and in 1986, “the hand of God” and the “goal of the century” helped Maradona secure Argentina’s second World Cup. This time, alongside the United States and Canada, the Latin American nation will host millions of fans in three cities: Mexico City, Monterrey, and Guadalajara.
Following its triumph at Euro 2024, Spain could arrive at the 2026 World Cup as the top favorite, thanks to a young and talented generation led by Lamine Yamal, Nico Williams, and Pedri. France, runner-up in the last World Cup and champion in 2018, is also a strong contender with stars like Kylian Mbappé and a deep roster. Brazil, under new leadership with coach Carlo Ancelotti, remains a historical powerhouse seeking its sixth title. England, with players like Jude Bellingham, Bukayo Saka, and Harry Kane, aims to end its World Cup drought, while Argentina, the current champion, relies on the experience of Dibu Martínez, Enzo Fernández, and Julián Álvarez to defend the crown—possibly in Lionel Messi’s final World Cup. Portugal, recent winner of the 2025 Nations League, and Morocco, semifinalist in Qatar 2022, are also teams to watch, while Mexico dreams of making a surprise run, backed by talents like Santi Giménez, Edson Álvarez, and a solid base of Liga MX players.
The 2026 World Cup will debut a new format with 48 teams divided into 12 groups of four. The top two from each group, along with the eight best third-placed teams, will advance to the round of 32.
This format allows the champion to play up to eight matches—one more than in previous editions—and raises the total number of games to 104. The opening match is scheduled at Estadio Azteca on June 11, and the final will be held on July 19, 2026, at MetLife Stadium in New Jersey, home of the NFL’s Jets and Giants, making this the longest and most game-filled World Cup in history.
The World Cup Brings Goals and Economic Growth
Hosting a World Cup isn’t just a matter of prestige, as GBM highlights—it’s a high-impact economic play. To meet the standards of the world’s most-watched event, host nations must invest heavily. In Mexico’s case, the firm’s analysts estimate an infrastructure investment of $805 million, primarily focused on Mexico City, including key improvements at the international airport.
This amount is significantly lower than the investment planned by the United States, estimated at US$10.42 billion. The difference is due to Mexico and Canada hosting only 13 matches each, while the United States will stage 78 games, including all knockout rounds.
GBM notes that such investment is not made in vain. Global events in Mexico have historically generated strong returns. Since its return in 2015, Formula 1 has brought in around US$7 billion, while NBA, NFL, and MLB games have also drawn millions of fans, especially from Latin America.
But the World Cup is in a league of its own. It’s the one global sporting event capable of delivering the largest economic impact for a host country. According to figures cited in the analysis, Brazil 2014 contributed a 1.2% GDP increase and 158,000 temporary jobs, with its legacy being mainly tourism-driven. Russia 2018 modernized infrastructure and added over $14 billion to the economy, creating more than 300,000 jobs. Qatar 2022, with a record US$200 billion investment, cemented its global positioning.
According to GBM estimates, the 13 matches held in Mexico could generate an economic impact close to US$1 billion, driven by the arrival of approximately 5.5 million visitors during the tournament. This would represent a significant boost for domestic tourism. Additionally, the creation of 24,000 direct jobs related to World Cup activities is expected—from stadium volunteers to additional pilots for the increase in international flights.
Some analysts estimate that, indirectly, the total economic impact could reach up to US$7 billion, factoring in cultural, culinary, and sporting events organized across the country. And that doesn’t include the value the World Cup holds for global companies, sponsors, and sports brands.
The analysis details how, for FIFA, the World Cup is its primary revenue source. As demonstrated by Qatar 2022, the sale of rights related to the tournament generated US$6.3 billion between 2019 and 2022, accounting for 83% of the organization’s total revenue during that cycle. This financial impact makes each World Cup a crucial event for the sustainability and global expansion of FIFA’s operations.
Financial Opportunities Landing With the World Cup
The authors of the analysis raise what they call “the million-dollar question”: how can investors take advantage of the World Cup to boost their investments?
The first factor they believe should be considered is the increase in visitors arriving in the country. While the Mexico City International Airport—which will host five matches—is government-operated, the airports in Guadalajara and Monterrey are managed by Grupo Aeroportuario del Pacífico (GAP) and Grupo Aeroportuario del Centro Norte (OMA), respectively. Both companies are listed on the Mexican Stock Exchange, creating opportunities for investors to benefit from increased air traffic and higher airport service revenues during the World Cup.
On one hand, GAP operates 12 airports in the country. While the largest in terms of volume is Guadalajara, the most appealing from a tourism perspective might be Puerto Vallarta or Los Cabos. For OMA, the potential is similar. In addition to Monterrey’s airport, which is key during the event, destinations such as Acapulco or Ixtapa-Zihuatanejo may attract fans seeking a break between matches.
The other major airport group in Mexico is ASUR, GBM notes. While it does not benefit directly from World Cup matches, it could gain from increased domestic travel driven by fans moving around the country. ASUR controls the airport with the highest international traffic in the country: Cancún.
Brands, Media, and Stadiums: Other Key Players in the Game
Beyond stadiums and tourism, analysts point out that the World Cup also activates key players in media, entertainment, retail, and sports—many of which are publicly traded companies. One central figure is Ollamani, the company that owns Estadio Azteca, which plans to invest more than US$158 million in its renovation, as the venue will host five matches, including the opener.
Although it will not receive revenue from ticket sales, merchandise, or sponsorships during the tournament, this investment ensures international visibility and increases its value as a venue for future events. Another asset, PlayCity, could see a major boost in sports betting activity during the World Cup, driving profits for the group.
In Q1 2025, AGUILAS—the holding company encompassing football and betting operations—reported EBITDA of 268 million pesos (US$14.1 million), below GBM’s estimate. Fourteen percent of its revenue came from Club América and Estadio Azteca, while 43% came from PlayCity Casinos. The firm’s research team assigns a price target of 64 pesos per share (US$3.36), with 35% upside potential.
In media, TelevisaUnivisión is the dominant player. It holds the broadcast rights to the 2026 World Cup in both Mexico and the U.S. (in Spanish), covering free-to-air television and digital platforms. The company also holds rights to the Olympics through 2032, the Gold Cup, and Liga MX, consolidating its leadership in sports content and increasing its commercial value.
But the playing field doesn’t end there. Global brands like Nike and Adidas—who outfitted 63% of the teams at Qatar 2022—play a key role in jersey, cleat, and merchandise sales. Nike, for instance, sponsors stars like Mbappé, Cristiano Ronaldo, and Neymar, and leads in on-field presence.
Nike is a top international pick in GBM’s view, thanks to its exposure to the global sports market, particularly in Asia. Its Triple Double strategy and $2 billion cost-savings plan strengthen margins through automation, e-commerce, and price increases. The brand also stands out for shareholder returns: $2 billion in dividends, recent buybacks worth $8 billion, and a five-year $16 billion plan—all in dollars.
Finally, the World Cup’s official sponsors are also playing their own game. Companies like Coca-Cola, Visa, Bank of America, Aramco, Lay’s, and Adidas invest hundreds of millions of dollars for exclusive rights and massive exposure to a global audience. Each leverages the tournament to strengthen its market position: Coca-Cola launches campaigns like #SomosLocales, Visa bets on young ambassadors like Lamine Yamal, and Aramco gains strategic visibility as the only sponsor from the energy sector. For these firms, the World Cup is not just about branding and awareness—it’s a high-return investment.
The Play Is Underway
GBM notes in its analysis that with one year to go before the World Cup, opportunities for investors are already on the table. From infrastructure and tourism to media, betting, and sports brands, the world’s biggest tournament moves more than just passion—it moves capital.
Spotting early which companies are best positioned to capture value—whether through direct exposure to the event or collateral effects on consumption, mobility, and entertainment—can make all the difference in returns.
The 2026 World Cup will be an unprecedented showcase for Mexico and for many globally active companies. The question isn’t whether it will generate value—it’s: with whom and how will this historic play be executed?
