Stuff.co.nz. By Susan Edmunds
A mistake in work done to determine the economic benefit of the America's Cup to New Zealand has been revised – and it shows the country might not break even.
The Ministry of Business, Innovation and Employment said Market Economics had told it that there were errors in the cost-benefit analysis it initially presented.
The data does not affect the prediction that the cup would provide between $600 million and $1 billion in value-add to the New Zealand economy, and an employment boost of 4700 to 8300.
But the costs involved may be higher than originally estimated.
Instead of delivering a return of $1.20 to $1.80 for every dollar spent, Market Economics instead predicted it would deliver between 0.997c and $1.14.
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