Report shows America's Cup was a boon

11:45 AM

The America's Cup regatta in Auckland was a cash and tourism bonanza according to a report out today.

The detailed report into our successful defence of the world's most coveted yachting trophy has been released at Parliament and the figures are impressive.

The report claims the regatta generated $640 million in economic activity.

Construction, transport, accommodation, hospitality and retail were all big winners and so were the workers with the regatta generating almost 11,000 jobs, more than 8,000 of them in Auckland.

Auckland's Mayor says the report vindicates the region's decision to invest in the event in a big way.

Mayor Christine Fletcher says it is important to have the benefits quantified.

She says there was a very large investment from Aucklanders in the development of the Viaduct basin area and that has brought huge benefits to the Auckland region.

On a per capita basis the Tourism Industry says the benefit to New Zealand from the America's Cup could outstrip Australia's benefit from the Olympic Games, and so long as we keep winning it will be repeated.

The exposure for New Zealand was massive with 1500 hours of television screening in 98 countries.

Meanwhile, Auckland retailers say they learned from the last America's Cup and will do even better next time around.

The chief executive of Heart of the City, Alex Swney, says central city retailers lifted their turnover 20 per cent during the six months of the Cup.

He is not surprised at the Ministry of Tourism and Sport's report, but says retailers are going to be much better equipped next time.

Herald Online feature: America's Cup