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America’s Cup Already a Winner for New Zealand

America’s Cup Already a Winner for New Zealand

Minster for the America’s Cup Trevor Mallard and Minister of Tourism Mark Burton are welcoming the results of a new study, which already shows a multi-million dollar windfall to the New Zealand economy from the build-up to the 2003 America’s Cup Defence.

“Over the 2000-02 period extra spending is estimated to have reached $73 million, generating $65 million in added value to the national economy,” Trevor Mallard said.

“There’s also excellent news on the jobs front. Between 2000 and 2002 an estimated 1470 full-time job equivalents have been created mostly in construction, commercial accommodation and hospitality, marine services, retail, entertainment and transport, ” said Trevor Mallard.

“The America’s Cup is already a winner for New Zealand—and the defence hasn’t even started yet,” Trevor Mallard said.

Minister of Tourism Mark Burton said he was focussed on making the most of the enormous potential for overseas marketing provided by the defence.

“The America’s Cup is an ideal opportunity to show our country to the world. The implications for tourism are virtually unlimited.

“Tourism New Zealand is taking full advantage of this global attention to enhance international interest in New Zealand as a sophisticated, year-round destination.

“Viewers from all over the world will have the chance to see the vast array of world-class products, activities and cultural events New Zealand has to offer.”

The America’s Cup 2000 was estimated to have generated $640 million in added value to the economy nationwide, including $473 million in Auckland.

The economic impact assessment was prepared for the Ministry of Tourism and is available on www.tourism.govt.nz

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