A number of countries are looking to host the 2023 Women’s World Cup as it would also lead to economic gains, due to estimations hinting that the hosting countries would earn around half a billion dollars. The joint bid for 2023 tournament is to be decided this week.

Competing against Australia and New Zealand for the hosting position is Colombia. Business analysts and trade experts suggested that the two hosting the competition would help in diplomatic gains with the Asian countries due to the sport’s popularity around Asia. 

At the start of the week, Japan withdrew its bid to host the tournament. The main reason Japan gave for its decision was the postponement of the Olympics that were to be held in Tokyo this year. 

Previously, Australia had attempted at staging the 2022 men’s World Cup but lost to Qatar. FIFA amended its decision-making procedure after claims of corruption revolving around Qatar hosting the men’s tournament. 

In trying to host the competition, the Australian government had spent $45 million, whereas the joint bid will only cost $5 million. Ticket sales, hospitality, broadcast deals and government contributions are forecast to generate over $250 million. Additionally, the economic value could be pushed up to $500 million. 

None of the 13 stadiums that are set to be used in the tournament around Australia and New Zealand need major refurbishment, with Sydney, Auckland, Melbourne, Brisbane, Adelaide and Perth being considered for the bigger matches. 

Moreover, Albury, Maitland, Cessnock, Ballarat, Cairns and Townsville in Australia and Napier and New Plymouth in New Zealand are expected to be used as training base and hotels for the participating teams.