PWC to conduct AC35 economic survey

With the conclusion of the 35th America’s Cup, an independent assessment has been commissioned to determine its economic impact on Bermuda.

PricewaterhouseCoopers has been hired by the ACBDA to conduct an independent study for completion by October, according to Grant Gibbons, the Minister of Economic Development.

Giving his congratulations to victors Emirates Team New Zealand, along with all the teams that took part, Dr Gibbons added: “Without a doubt, Bermuda has never hosted an event of this magnitude, and our success has already put us in an excellent position to host future international sporting and leisure events of similar scale.

“ACBDA will produce an event report by September that will detail their work and describe how AC35 was delivered. ACBDA currently plans to wind down by the end of the calendar year.

“Some information about AC35 is already available. I am pleased to note that through this prestigious sailing event, Bermuda received extraordinary visibility on the world stage as the Cup was broadcast to 162 countries with millions of people watching. This is only a snapshot.

“More details about Bermuda’s media exposure will be released as part of the final assessment report. Over 100,000 people visited the Village over 22 days, there were 62,315 booked tickets on the special AC ferries alone, and some 2,000 boats registered as spectators of the event.

“Bermuda hosted over 460 visiting boats, with over 80 of them being superyachts. We received extremely positive feedback from the owners and captains of these boats, some who had never been to Bermuda before.

“As a result of this success, we have been developing a long term superyacht policy and legislative framework. Another positive feature of AC35 has been the development of new marinas and marine services at the Hamilton waterfront, Hamilton Princess, Caroline Bay and the facilities at South Basin in Dockyard.

“Small Bermudian-owned businesses also benefited from AC35. ACBDA formed partnerships with the Bermuda Economic Development Corporation, the Bermuda Chamber of Commerce, the Imperial Group and others to support small-business involvement during the events.

“More than 30 Bermudian small businesses, some of them new, were represented in the AC Village, and our food and beverage vendors enjoyed a huge volume of business.

“The event brought new sailing regattas to the island, with more expected, the minister said.” – Jonathan Bell in The Royal Gazette