Re­gatta buoys city econ­omy

Auckland City Harbour News - - News -

Mil­lions of dol­lars have been in­jected into the Auck­land econ­omy thanks to the Louis Vuit­ton Pa­cific Se­ries, says a new re­port.

The re­gatta, held on Auck­land’s Waitem­ata Har­bour in Jan­uary and Fe­bru­ary, fea­tured many yacht­ing syn­di­cates that have taken part in the Amer­ica’s Cup.

The re­port was com­mis­sioned by Auck­landPlus, the re­gion’s eco­nomic de­vel­op­ment agency, and the Auck­land City Coun­cil.

It found $16.1 mil­lion of ad­di­tional money made its way into the city’s econ­omy.

The coun­cil, Tourism Auck­land and Auck­landPlus each in­vested $20,000 to help se­cure the event.

Auck­landPlus chair­man Michael Bar­nett says the eco­nomic re­sult is a fan­tas­tic re­turn on the in­vest­ment.

The re­port iden­ti­fied the marine in­dus­try as one of the big win­ners with at least $9m of ex­tra busi­ness gen­er­ated thanks to the re­gatta.

Mr Bar­nett says the event could de­liver fur­ther eco­nomic ben­e­fits with Auck­land’s in­ter­na­tional pro­file raised, thanks to tele­vi­sion high­lights pack­ages screen­ing in more than 100 coun­tries.

Newspapers in English

Newspapers from New Zealand

© PressReader. All rights reserved.