The Allianz Economic Report conducted in co-operation with Professor Tom Cannon, Dean of Buckingham University Business School and a leading expert in sport and business finance has taken into account the following factors in order to draw the conclusion found in the report: infrastructure investment; syndicate communities, international visitors, regatta organisers, media, sponsors and business, construction, marine sector, accommodation, hospitality, retail, entertainment, transport and logistics.
Commenting on the Allianz Economic Report Professor Tom Cannon stated, “I have been conducting studies into sport for many years, but I was genuinely surprised by the size of the prize in the America’s Cup. A sport competed for by millionaires and billionaire has developed into an event which delivers billions of dollars to the winning syndicate and its chosen city.”
Bjoern Widemann, Brand Communication Manager, Allianz SE commented, “the America’s Cup has evolved from a niche event for an elitist group of people to an important event on the international sporting calendar. As a leading global Financial Services provider Allianz strives to make the right decisions at the right time and we rely on data to do this. With this report we aim to support the further development of the sport respecting the demands of the teams and sailors, the public and sponsors.”
Report Highlights:
The America’s Cup offers the biggest prize in world sport, and is the third largest international competitive sporting event behind the Olympics and the FIFA World Cup and similar to Formula One
Over the four year cycle of the America’s Cup the set up costs for each of the 12 competing teams has averaged $100m, making it the largest investment by teams in an international sporting competition. With total investment by the teams breaking the unprecedented $1 billion mark
If Alinghi won the 32nd America’s Cup and took it to Dubai, where it conducted winter training the economic impact for Dubai would be $10 billion.
If BMW ORACLE Racing were to win the Cup and bring it home to the USA to either San Francisco or Newport the corresponding economic impact would be $9.9 Billion or $4.5 Billion
Total economic return for hosting the 33rd America’s Cup in Auckland, New Zealand would reach $1.75 Billion
However Emirates Team New Zealand could expect to generate increased revenues if it chose to host the event in Dubai
Total economic return from Luna Rossa winning and then hosting the America’s Cup in Genoa, Italy would be in the region of $3.75 Billion
Success by DESAFÍO ESPAÑOL 2007 would bring an additional $1.5 Billion into the Spanish economy in direct and indirect effects in the short to medium term of hosting the 33rd America’s Cup- generating around 22,500 jobs.
