You are using an older browser version. Please use a supported version for the best MSN experience.

NZ could reap $1bn from hosting Cup

NZ Newswire logoNZ Newswire 27/06/2017

Sailing - America's Cup finals - Hamilton, Bermuda - June 26, 2017 - Peter Burling, Emirates Team New Zealand Helmsman holds the America's Cup after defeating Oracle Team USA. REUTERS/Mike © MIKE SEGAR/REUTERS Sailing - America's Cup finals - Hamilton, Bermuda - June 26, 2017 - Peter Burling, Emirates Team New Zealand Helmsman holds the America's Cup after defeating Oracle Team USA. REUTERS/Mike Boat-building, tourism, accommodation, hospitality and major events for New Zealand are just some of the windfalls the country could capitalise on in the wake of the stunning America's Cup win.

The head of Auckland Tourism, Events and Economic Development (ATEED), Brett O'Riley, says the gains could be massive.

"You have an enormous opportunity for the New Zealand marine industry and in the same way The Lord of The Rings and The Hobbit showcased the best scenery, so can the America's Cup," he told the NZ Herald.

"The only people who can really answer the question of where the bases will be are Team New Zealand, because it all depends on the type of boats raced.

"And are we talking a single regatta or preliminary events?"

The economic benefits could in the billion-dollar territory, he said, a sentiment echoed by businessman Sir Ralph Norris.

Sir Ralph told Newstalk ZB the economic benefit would be significant.

"It might even be a little higher than [$1b]."

Sir Ralph said he understood planning for a defence was already under way.

"I get the impression from what I've heard over the last couple of hours that a lot of forethought has already gone into where the race will be held in Auckland, what sort of arrangements will be needed to be put in place.

"I don't think they're going into that cold."

image beaconimage beaconimage beacon