America’s Cup: Covid slashes cash haul

The 36th America’s Cup in Auckland returned 79 cents for every dollar invested by the Government and the Auckland Council, a new study has shown.

The pandemic ensured the event fell far short of providing the $600m to $1 billion expected boost to the New Zealand economy that was forecast in 2017 – a return of between 99.7c and $1.14 for every dollar invested.

Nick Hill, who heads the council’s economic and cultural agency, Auckland Unlimited, said the event had other benefits.

“The America’s Cup has further transformed Viaduct Harbour and Wynyard Quarter, opening up new public spaces, artworks, calm water spaces and infrastructure that will be enjoyed for years to come,” Hill said.

For the full story, see: https://www.stuff.co.nz/sport/americas-cup/125802884/americas-cup-covid-slashes-cash-haul-as-regatta-returns-79c-for-every-dollar-spent