Businesses hoping for the boat to come in
An America’s Cup win would put New Zealand on the map for wealthy investors, make the country a fashionable place to be and could be worth more than $500 million in economic benefits.
But before jinxing Team New Zealand, it is still too early to even presume a win would necessarily mean the next America’s Cup would be hosted here.
Emirates Team New Zealand led defenders Oracle 4-1 before this morning’s races in the first to seven.
Steve Armitage of Auckland Tourism, Events and Economic Development said it was fantastic to see Team New Zealand performing well, but it was far too early to speculate on where the next event would be held.
Any decisions about Auckland hosting a future America’s Cup would need to be in partnership with the Government and the private sector in order to maximise its economic return, he said.
‘‘It would also be contingent on a New Zealand cup defender’s decisions about competition format, host country and host port.
‘‘But, from previous experience, it’s best to wait until the last race has been sailed and the defender of the next America’s Cup is confirmed.’’
NZ Marine Industry Association executive director Peter Busfield was cautious of jinxing this year’s America’s Cup, and said it was unwise to presume a future iteration would even be held in New Zealand.
Proposed new rules still meant the choice of venue was decided by the defender.
In the event the America’s Cup did return to New Zealand, Busfield said it would undoubtedly provide a huge boost to the local boatbuilding industry.
He was in Palma, Spain this week, promoting the country’s marine expertise, before heading to Bermuda.
The local industry was worth about $2 billion a year over the past five years, of which $700m was exports, but an America’s Cup win would add about $500m.
Nearly 100 superyachts were in New Zealand for the racing back in 2000, up from the previous norm of one or two a year.
After the cup was lost, those numbers fell to about 19, although they rose to 55 visits last year, Busfield said.
‘‘That’s about 60 per cent of what we enjoyed 17 years ago. It actually just turns you into a fashionable place to be.
‘‘It’s a leading-edge opportunity for New Zealand to get high-level investors to see what New Zealand’s about.’’
He said the economic benefits these superyachts brought rippled throughout the country, and while Auckland would be an obvious host, it would not have the capacity to meet demand.
Auckland Council would need to think about more facilities, particularly additional berthage and haulage, he said.