The 35th America’s Cup was recently concluded and there are assessments being commissioned to check the economic impact of the same on Bermuda.
One of the consultancies hired for the work is Pricewaterhouse Coopers. They are conducting a survey independently, which is targeted to be completed by the month of October as per the ministry of economic development.
The victors of this year’s legendary America’s Cup were the Emirates team New Zealand. As the Minister of Economic Development, Grant Gibbons was giving away the victory trophies he stated that, a sailing event of this magnitude has not been hosted by Bermuda before. The success of the event has put the economy of the region in a position to host international sailing events of such magnitude in the future as well. He also acknowledged the fact that the forthcoming version of the America’s Cup, 36th edition scheduled in 2021, would be held in New Zealand. The teams that participated in AC35 such as the Land Rover BAR, Team France and Emirates team New Zealand would be leaving Bermuda as July comes to an end.
The minister stated that he would like to extend the opportunity to sail and train on Bermuda waters to the teams that participated in AC35 even if the forthcoming competition is not held here officially. If that is so, there would be certain amendments made to the concessions that were extended to these organizations.
The event organizers of America’s Cup are winding down their operations and they will leave behind a small team who would continue to use the island as a sailing base. This would involve taking down temporary structures that were set up in Freeport Drive and Event Village. The ministry wants more clarity of what the AC organizers plan for the region as an infrastructure that was set up can be costly to take down. Many setups that were made are flexible as well as permanent and can be used for the sailing events of similar magnitude.