News Article

America's Cup Will be a Welcome Boost to the Economy

07/06/2011


In September 2011 Plymouth will be hosting the second round of the America's Cup World Series, renowned for being the world's most prestigious sailing event.

Over the eight day event, a fleet of high performance AC5 wing-sailed catamarans will race within the Plymouth Sound as part of this prestigious event. Plymouth has been afforded a great opportunity not only to boost the local economy but also to showcase its marine sector and tourism assets whilst placing itself on the map for large scale, international events. It is envisaged that this event alone is likely to bring in an estimated £10m of economic benefit for Plymouth.

The economic benefits of hosting the America's Cup World Series for Plymouth may only be estimates at present, but the reality of the economic value of this event has been seen in other countries. When Valencia hosted the America's Cup in 2007, it was estimated that the economic impact of the event amounted to 5.77bn Euros. A similar picture emerged for New Zealand when they hosted the 2003 America's Cup which saw $523m of net spending in the New Zealand economy generated by the event over the 2000-01 period.

The key task for Plymouth now is to prepare for the event and showcase itself as the illustrious maritime City that it is.



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