Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

New Economic Impact Study into America’s Cup

18 October, 2002 Media Statement


New Economic Impact Study into America’s Cup


A new economic impact study is to be carried out into the spin-offs to the economy and local businesses from the Louis Vuitton and America’s Cup regattas, Minister for the America’s Cup Trevor Mallard and Tourism Minister Mark Burton announced today

The study is jointly funded by the America’s Cup leverage fund and Auckland City Council, and is a repeat of a 1999/2000 study which estimated that $640 million in extra economic activity was generated by the last America’s Cup racing.

“It’s important that research like this continues that can pinpoint the wins made, and give us information as to how best to maximise the benefits to New Zealand as a whole, and to other agencies and businesses associated with the Cup,” Trevor Mallard said.

The minister was speaking at the launch of the Base Club ambassadors programme at the Viaduct Basin in Auckland – another event designed to maximise economic gains from the Cup through networking between local business and overseas VIPs.

Tourism Minister Mark Burton said reports already received show that over the 2000-02 period extra spending is estimated to have reached $73 million, generating $65 million in added value to the national economy - even before the defence has begun.

An estimated 1470 full-time job equivalents have been created in the build-up period alone, mostly in construction, commercial accommodation and hospitality, marine services, retail, entertainment and transport.

“The America’s Cup impacts on the entire country, and the long-term spin-offs for tourism are enormous. A comprehensive study such as this one means that Tourism New Zealand will be better equipped to realise this potential. It will provide the data necessary to analyse the value added to the economy, as well as evaluate issues of employment and infrastructure within the sector.”

The full economic impact study will use information collected through the International Visitor Survey and the Domestic Travel Survey to capture travel behaviours and spending of domestic and international visitors.

Over the next five months there will also be surveys of a wide range of local and national business, from travel agents to marine suppliers, from events organisers to infrastructure developers.

The results will be available in the second half of next year.


ENDS

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Supermarket Scam, And On Tunisia’s Scrapping Of Democracy

Are we paying too much for our groceries? Hmm. Is the Pope a Catholic? Given that the two Australian supermarket chains that dominate our grocery industry routinely rack up profits in the order of $22 billion annually, that’s a no-brainer. Yet as with New Zealand’s other socio-economic problems created by our 1980s reforms, the practical solutions seem pretty thin on the ground... More>>

 


Government: Welcomes Draft Report On The Retail Grocery Sector

The Commerce Commission’s draft report into the retail grocery sector is being welcomed by Government as a major milestone. “I asked the Commerce Commission to look at whether this sector is as competitive as it could be and today it has released its draft report for consultation,” Commerce and Consumer Affairs Minister, David Clark said... More>>

ALSO:

Child Poverty Action Group: Poverty Burden For Children Increased Due To Government Neglect - New Report

Poverty, inequity, homelessness and food insecurity are among the burdens which increased for tamariki Māori and other children in the first year of Covid-19 - partially due to Government neglect... More>>

Government: Cabinet Accepts Turkish Authorities’ Request For The Managed Return Of Three NZ Citizens

Cabinet has agreed to the managed return of a New Zealand citizen and her two young children from Turkey, Prime Minister Jacinda Ardern announced today. The three have been in immigration detention in Turkey since crossing the border from Syria earlier this year... More>>

ALSO:


NZUS Council: Welcomes Nomination Of Senator Tom Udall As US Ambassador To NZ

The NZUS Council welcomes the nomination of Senator Tom Udall to the role of US Ambassador to New Zealand and Samoa, NZUS Council executive director Jordan Small said... More>>

BusinessNZ: Visa Extensions Welcomed
BusinessNZ has welcomed the extension of some critical skill visa durations and changes to immigration systems to speed processing. Chief Executive Kirk Hope says move acknowledges advocacy by the hospitality sector, the BusinessNZ Network and others, and comes not a moment too soon.... More>>



Social Development: Government Initiatives Contribute To Fall In Benefit Numbers

Minister for Social Development Carmel Sepuloni has welcomed the release of the June quarter Benefit Statistics which show a continuing fall in the number of people receiving a Main Benefit... More>>


 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels