How much will hosting the America’s Cup add to our economy? At least half a billion dollars, if previous Cups are any indication. A report found the first Cup hosted here resulted in an additional $640 million of ‘value added’ to the economy, of which one quarter was spent outside Auckland. It created around 10,500 jobs (specifically, “full time equivalent years of employment”), including 2,500 outside Auckland. As Helen Clark noted at the time, "While Auckland gained enormously, it's good to know that the flow-on effects benefited the country as a whole."
These whole-of-country benefits, including promoting New Zealand as a destination, mean it would be surprising if the Government didn’t chip in to help meet the costs of hosting. Aucklanders should brace themselves for big projects in the city…
