America's Cup injected $529m into economy

Team New Zealand may have lost the America's Cup but the regatta injected $529 million into the economy. A Government study found most of that money, $450 million, was spent in the Auckland region.

The economic benefit was slightly better than for the 2000 America's Cup, which injected an extra $495 million into the economy.

Team New Zealand, under new syndicate head Grant Dalton, has yet to say if it will challenge for the cup when it is sailed off Spain in 2007.

America's Cup Minister Trevor Mallard said the 2000 and 2003 events had generated about $1 billion for the economy.

Further reading: nzherald.co.nz/americascup