The economic impact of the America’s Cup could be bigger than originally forecast, according to Minister of Economic Development Dr. Grant Gibbons.
The impact assessment by the Bermuda America’s Cup Bid Committee, released in October 2014, projected an economic impact of $242M for the island. Of that, $94.1M [38.9%] was from spending by the America’s Cup Event Authority, Oracle Team USA and the challenger teams.
The Projected Economic Impact [PEI] report was based in part that the “challenger teams would be in Bermuda for a period of only three months.”
Those figures are now impacted with both Artemis Racing and Team Softbank Japan based here.
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