Posted by Oh Dear, the dull – as in unsharp – knives are out for the 37th America’s Cup, or more specifically Team New Zealand’s rejection of the Kiwi$100m offer from the government.
Let’s put that in perspective first of all. In 2003 according to the report released by the self same government the economic impact of that America’s Cup was an estimated $529m on top of the 2000 event bringing in $495m. I’ll make it easy for you, that’s over $1Bn.
The Cup between 2000 & 2003 generated an extra 9,360 additional “full-time” equivalent jobs in New Zealand which would have brought 3 years worth of additional tax receipts to the New Zealand coffers
In between, we have had 18 years of inflation and although visitor numbers took a hammering due to COVID restrictions, the America’s Cup ‘business’ was no different to many other industries around the world over the past 18 months…
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