Sailing professor: Alert levels contributed financial loss in hosting Am Cup

Author
Newstalk ZB,
Publish Date
Wed, 21 Jul 2021, 7:44AM
(Photo / Greg Bowker)
(Photo / Greg Bowker)

Sailing professor: Alert levels contributed financial loss in hosting Am Cup

Author
Newstalk ZB,
Publish Date
Wed, 21 Jul 2021, 7:44AM

Covid-19 has left its mark on the balance sheet of New Zealand's hosting of this year's America's Cup.

Analysis found that financially, New Zealand was almost $293 million worse, but when net benefits are considered, the loss shrinks to $156 million.

The impacts of the pandemic, having fewer challengers and high public investment contributed to significant deficits.

AUT sailing professor Mark Orams told Tim Dower even within our closed borders, the event was held - at various times - under Covid levels two and three.

“And that really constrained all of the hospitality sector, the movement of people, the ability of even New Zealanders to engage in the event in the way that was originally planned.”

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