According to a new report, the economic impact of hosting the America’s Cup sailing event could reach as high as $10bn for the winners of the 32nd edition of the competition.
With the winners of the America’s Cup also handed the right to host the next edition of the race, the economic benefit of being a host has risen to record new levels.
The study, commissioned by Allianz – one of the main sponsors of the BMW Oracle Racing team, indicated that a win for its team in this year’s event would produce an economic impact of $9.9bn for the US should it host the subsequent 33rd America’s Cup in San Francisco.
Similarly, a win for the Alinghi team would see Dubai profit to the tune of $10bn when it came to hosting the next America’s Cup event.
Not every country was predicted such a major economic boost with a win for the Desafio Espanol team bringing a $1.5bn hike to the Spanish economy while a success for the Luna Rossa outfit would benefit Italy to the tune of $3.75bn.
The report was conducted in co-operation with Professor Tom Cannon, Dean of Buckingham University Business School, and took into account an array of factors including infrastructure investment; syndicate communities, construction, retail, and transport and logistics.
The 32nd America’s Cup is currently taking place in Valencia.