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Govt to support 2015 & 2018 Volvo Ocean Race

Hon Steven Joyce
Minister for Economic Development
29 January 2013 Media Statement
Govt to support 2015 & 2018 Volvo Ocean Race Auckland stopovers

The Major Events Development Fund will invest $1.5 million on each of two Volvo Ocean Race Auckland stopovers to be held in 2015 and 2018 following an announcement today by Economic Development Minister Steven Joyce.

The funding will assist with event delivery and to leverage a broad range of immediate and longer-term benefits from the stop-overs.

“These events provide a platform to leverage benefits for New Zealand, particularly for New Zealand’s marine sector. The marine industry has $1.7 billion in annual turnover, produces $650 million in exports each year and employs 9,000 full time staff. The Volvo Ocean Race stopovers provide a great opportunity to showcase this sector’s expertise internationally,” Mr Joyce says.

“Economic impact figures show that the 2015 and 2018 stopovers will provide a GDP impact to New Zealand of approximately $7.4 million respectively and attract 1,880 international visitors each year.”

The Government invested $1.5 million in the 2012 Volvo Ocean Race Auckland stopover and the new investment will cumulatively build on the benefits generated by the 2012 event.

“The economic impact figures for the 2012 Stopover showed it generated an additional $6.3 million to New Zealand’s GDP and attracted 1,681 international visitors,” Mr Joyce says.

“Around 275,000 spectators visited the race village in 2012. Exhibitors in an associated New Zealand Marine Showcase noted crucial relationships and sales leads were formed with international clients, including race syndicates, during the stopover.”

The Volvo Ocean Race is a round-the-world yacht race held every three years. It spans a nine month period which includes a number of stopovers at international ports to allow for boat maintenance and rest time for the crews.

It is anticipated that Auckland will host 15 day stopovers in early 2015 and 2018.

© Scoop Media

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