City of Sails soaks up $16m from yachting series

The regatta's $11.54 million boost to Auckland's GDP is more than twice the impact of the 2007 World Netball Champs. Photo / Paul Estcourt

Auckland's return to the international yachting limelight in February put about $16 million into the Auckland economy, says an independent audit.

While Team New Zealand and Alinghi and eight other visiting syndicates battled it out on the Waitemata Harbour, the City of Sails was soaking up the benefit in many forms, said the Covec consultancy report.

Its estimate of the cash boost from the Louis Vuitton Pacific Series excluded extra spending by super-yacht owners coming for the associated Millennium Cup regatta.

"The $16.1 million cash injection translates to an $11.54 million increase in the Auckland region's GDP," said AucklandPlus chairman Michael Barnett.

"To put that in context, in terms of GDP that is more than twice the impact of the 2007 World Netball Championships."

Mr Barnett said the economic result and international television exposure were a "fantastic return" on contributions to the series, which was run by Louis Vuitton, Emirates Team New Zealand and the Royal New Zealand Yacht Squadron.

The Government spent $750,000 for New Zealand's two boats and to help BMW Oracle with the two boats they shipped over from the America's Cup sailing base in Valencia.

Mr Barnett said the Auckland City Council, Tourism Auckland and AucklandPlus each gave $20,000 to help secure the event.

Covec said Louis Vuitton would have spent millions in Auckland on the series and the teams about $1.5 million, sponsors and VIPs $1 million and $9 million on services and products from the local marine industry.

Hospitality and tourism businesses reckoned on a total of $5.44 million coming in. Charter boat bookings were disappointing.

Covec said the 2005 Lions rugby tour lifted regional GDP by $43 million.

REGATTA BENEFITS

* 340 hours of TV coverage in 100 countries reached 600 million viewers.
* $5.44 million hospitality and tourism revenue.
* $9.01 million marine businesses revenue.
* $1.65 million other sectors revenue.
* $16.10 million total additional revenue.
* $11.54 million extra Auckland GDP.