Well, here is chapter 9 of The Team New Zealand story 1995 - 2003 book which is boosting the economy that I'm doing today on my blog:
It's no secret that holding the America's Cup is equally valuable for both sporting & economic reasons.
The difference is the sporting benefit isn't readily measurable. It's more a case of a feel-good rub-off but it's the sporting success - or at least the event itself - that drives the tangible by-products for the economy.
Team New Zealand's victory in San Diego in 1995 provided the opprtunity for the magic of the America's Cup to galvanise New Zealanders in a nationalistic sense but it also opened the door for huge financial benefits. Mounting a successful defence in 2000 then created the chance to at least double the value in 2003.
Various spin doctors insisted the cup would have an enormously positive effect on both the Auckland & national economies. Obviously the ultra rich syndicates coming to town would generate significant spending locally while the impact on tourism could never be under-estimated.
It turned out precisely that way during & even after the 2000 defence & now there's optimism the 2003 event may be potentially even more lucrative.
It's similar to the New Zealand film industry. Projects such as the Lord Of The Rings extravaganza advertise New Zealand in a special & spectacular manner; the expectation is that will have a flow-on boost for tourism numbers down the line.
So it is with the America's Cup. The exposure for New Zealand & Auckland particularly during the 2000 regatta could only be exceptionally positive. The television coverage of the racing itself enhanced Auckland's image & so did the contribution by a vast contingent of international media. The tangible rewards of such promotion are likely to manifest themselves in the 2003 regatta.
Such anticipation is based on the results of an America's Cup 2000 Economic Report which rolled out an array of numbers endorsing the event's influence.
It claims the America's Cup generated $640m of value added to the New Zealand economy & $473 to the Auckland region's economy. Government sources later pointed out the GST take alone from America's Cup revenue was in the region of $100m.
The breakdown of information was even more illuminating in the America's Cup report. Among other statistics it showed syndicates spent $149.2m, super yacht owners contributed $118m & international visitors $164m.
Among business areas to benefit from that significant spend were the marine sector ($126.7m), construction ($491.7m), accommodation ($64.2m), restaurants/hospitality ($51.3m), retail ($56.8m), entertainment & leisure ($33.2m) plus media & communications ($23.6m).
Many of the businesses to prosper can, of course, be found in & around the superb facility now known as the American Express Viaduct Harbour. The immediate vicinity with its restaurants, bars, super yacht facilities & various boat industry businesses is the natural magnet for the America's Cup regatta.
Massive development changed the face of the area for Team New Zealand's first defence. It was unrecognisable from the dilapidated facility it had been & the good news is that considerable improvements & extensions have been made since 2000. There's no question the American Express Viaduct Harbour sets Auckland apart from other venues that have staged America's Cup regattas.
Tourism New Zealand can also point to any number of ways in which the America's Cup benefits the country as a whole.
Once came when the Auld Mug was on display at the Genoa Boat Show in October 2000 (several months after Russell Coutts & others had left Team New Zealand). Dean Barker & Tom Schnackenberg were both present & helped to generate 25 spots on television networks across Italy (plus 29 newspaper articles).
Tourism New Zeland also says 39,000 international visitors were in New Zealand specifically for America's Cup 2000 but also travelled extensively to destinations such as Queenstown.
It points to the media's influence as well, highlighting the fact that of the 1600-strong media contingent covering the last regatta two thirds were from overseas. It was estimated that 400 million people saw 1500 hours of television coverage in 98 countries. As they say, that's publicity money can't buy & the benefits may only become apparent during the 2003 event.
The America's Cup is first & foremost a sporting contest but everyone knows it's also one of the most potent business tools in the sporting world.
Auckland & New Zealand have witnessed that once & are about to do so again. Many people have a vested interest in hoping there'll be more to come after 2003 as well.
So that is my 269th blog of the year 2019 (MMXIX) & my 9th of this year.
No comments:
Post a Comment