World Cup scouting report: Mexico highlights cultural centers with 13 soccer matches in three cities

CoStar News examined each FIFA World Cup host city and what the tournament June 11-July 19 could mean for local infrastructure, real estate, tourism and economic development long before the first soccer match is played. Find links to all the markets here.

The 2026 FIFA World Cup is expected to generate between $1.24 billion and $3 billion in economic activity for Mexico, according to the International Trade Administration. A total of 13 soccer matches are scheduled to be hosted at venues in Mexico City, Guadalajara and Monterrey.

FIFA and regional tourism officials expect the World Cup to bring in more than 836,000 visitors, including about 280,000 from outside of Mexico. That influx is projected to create at least 12,000 temporary jobs, with increased spending on lodging, restaurants and local services.

Here are CoStar News’ scouting reports about the three host markets in Mexico:

Mexico’s capital and largest city is scheduled to host five matches during the World Cup, including the tournament’s opening match featuring Mexico’s national team against South Africa on June 11.

Mexico City is among the oldest capitals in the Americas, with the current municipality established in 1524 and now spanning about 575 square miles. The city itself has a population topping 9.2 million, according to the latest census data, though the larger metropolitan region has more than 23 million when 60 adjacent municipalities are included.

Mexico City has attracted companies in multiple industries over the decades, including major firms involved in financial services, manufacturing, retail and telecommunications. Many of those firms occupy the region’s more than 2,000 high-rise buildings. The tallest at more than 876 feet is the 68-story, mixed-use Torre Mitikah, completed in 2022 and now sporting more than 600 apartments, a 280-store mall with a Cinepolis movie theater, and corporate tenants such as cosmetics giant L’Oréal and pharmaceutical firm Sanofi.

Mexico City is the headquarters for two firms in the Fortune Global 500: State-owned oil giant Pemex and telecommunications provider America Movil. Other large firms based there with global business operations include mining and transportation conglomerate Grupo Mexico; and Grupo Bimbo, the world's largest baking company with operations in 39 countries and the parent company of well-known U.S. brands such as Sara Lee. U.S. retail giant Walmart has its Mexico regional headquarters in Mexico City.

Also, Houston-based developer Hines has its Mexico regional headquarters in Mexico City, where it oversees its largest property management group outside the U.S., according to its website. Among other prominent office and industrial properties in the region, Hines developed and owns Mexico City's Corporativo Neuchatel office tower in a partnership with global investment firm Ivanhoé Cambridge.

According to brokerage Colliers, Mexico City is the country's largest commercial real estate market, with a total property inventory of 18.5 million square feet, with another 1.3 million square feet under construction as of this year's first quarter and overall vacancy of 4.2%. Commercial real estate services firm CBRE reports that Mexico City's big-box industrial vacancy rate is among the lowest in North America, at under 1%, driven by rising demand from corporate near-shoring and e-commerce. CBRE notes the city's 7.4 million square feet of offices have a vacancy rate that recently hovered around 17.5%, but recorded a 39% annual increase in leasing in the fourth quarter of 2025.

CoStar data shows Mexico City has 374 existing hotels with more than 41,000 rooms, with another 1,800 rooms under construction. Its hotel occupancy for the past year has hovered around 65%. 

The 87,000-seat Mexico City Stadium, the largest in Latin America, is described by FIFA as “a true coliseum of world football” and the first to host what will be its third FIFA World Cup event. Also known as Estadio Azteca, it is home to the national team and Club America of Liga MX, the country’s top professional soccer league. 

Guadalajara will host four matches during the 2026 FIFA World Cup. Its sports history includes serving as a host city for the 1970 and 1986 FIFA World Cup Finals, and it served as a soccer venue during the 1968 Olympic Games in Mexico. 

Guadalajara is the capital and largest city in the central-western Mexican state of Jalisco. The city spans 58 square miles and the larger metropolitan area spans more than 1,000 square miles, making it Mexico’s second-largest urban region. The latest census data showed the city's population at about 1.4 million, though the larger metropolitan area has more than 5.6 million people, making it Mexico’s second-largest such area by population.

Its history dates to the early 1500s and features numerous landmark sites, including San Juan de Dios Market, among the largest indoor markets in Latin America. The city is among Mexico’s most prominent cultural centers, home to numerous international film festivals and several universities and research institutions.

In recent years, Guadalajara has seen major expansion in high-tech manufacturing, dubbed by some as the Silicon Valley of Mexico. Semiconductor firms such as Intel and Foxconn have announced significant expansions. It has long been home to global electronics firms, which over the years have shifted from assembly-focused operations to higher-paying engineering work, according to regional economic development officials. The region’s tallest building is the 669-foot Hotel Riu Plaza Guadalajara, built in 2011 and spanning 44 floors.

While it doesn’t host the headquarters of any Fortune 500 firms, several international companies have significant operations in Guadalajara. Those include Grupo Aeroportuario del Pacifico (GAP), operator of 12 airports in central and northwestern Mexico; and Grupo Simec, a leading steel bar producer with its main corporate offices in Guadalajara. 

Guadalajara’s industrial real estate demand has surged in recent years, driven by near-shoring by U.S. firms and the development of computer chips and related high-tech components. Spec warehouse construction surged 30% on an annual basis during the past year to meet rising demand, according to Mordor Intelligence. Colliers notes that Guadalajara, Mexico’s third-largest office market, has around 700,000 square meters of inventory, with demand for top-tier spaces recently rebounding from flat growth in 2024.

According to CoStar data, the Guadalajara region has 198 existing hotels with just under 20,000 rooms, with another 1,600 rooms under construction. The region’s hotel occupancy for the past year was about 62%.

With a seating capacity of about 50,000, Guadalajara Stadium was built in 2010 and is home to C.D. Guadalajara, a team in the professional Liga MX soccer league. Also known as Estadio Akron, it hosted the 2011 Pan-American Games and was one of the main venues for the FIFA U-17 World Cup Mexico 2011. The eye-catching venue was built on raised ground with a spherical design, according to FIFA.

Monterrey will host four matches during FIFA World Cup 2026, including a Round-of-32 match.

Monterrey was officially founded in 1596 and is the capital and largest city of the northeastern Mexican state of Nuevo Leon. The city has a population of about 1.1 million and its metropolitan area has more than 5.3 million, the third largest in Mexico, according to the latest census data. Its population has more than doubled since 1985, fueled by its growing and job-creating industrial hub. 

Manufacturing-related nearshoring has turbocharged the region’s industrial economy, which was already posting significant growth during the past three decades, according to regional officials. Monterrey is considered to be the automotive capital of Mexico, hosting more than 120 companies involved in auto manufacturing. It also remains a significant driver of exports, such as electronics and home appliances. Its tallest building is the mixed-use Torre Obispado at 1,002 feet, though another Monterrey tower under construction, called Torre Rise, is set to become the tallest in Latin America at 1,588 feet. 

Monterrey-based Fomento Economico Mexicano, an international beverage and retail company also known as FEMSA, has appeared several times on the Fortune Global 500 list. The city is also home to large headquarters or regional operations of building materials maker Cemex, petrochemical supplier Alfa, supermarket chain Soriana and banking firm Banorte. 

Industrial space demand has boomed in recent years among users in transportation, logistics, electronics, e-commerce, and vehicle parts, according to Newmark. Companies like AGP Glass and Toro Company have expanded significantly in the region. Monterrey accounts for about 16% of Mexico’s current office construction activity, second only to Mexico City, with demand driven by industries including aerospace, defense, medical devices, electronics and automaking.

CoStar data shows the Monterrey region has 138 existing hotels with just under 18,000 rooms, with 840 rooms under construction. Its hotel occupancy for the past year was about 62%.

The 53,000-seat Estadio Monterrey was completed in 2015 and is the home venue of C.F. Monterrey in the Liga MX professional soccer league. Also known as Estadio BBVA, it has sustainable energy systems among other high-tech features. It hosted eight matches during soccer’s 2022 Concacaf W Championship.