The next edition of the America’s Cup, sailing’s most prestigious competition, could pump some $300 million into host island Bermuda’s struggling economy.
The economic impact on Bermuda will be the biggest “since the airport opened for civilian flights,” economist Peter Everson predicted after that British overseas territory was chosen this week to stage the race.
The 2017 America’s Cup could be the perfect antidote for recession-hit Bermuda, Everson said, alluding to the the thousands of people expected to descend on the mid-Atlantic island for the biggest event on that year’s international sailing calendar.
Tourism officials expect visitor arrivals to rise significantly over the next three years, while hotel occupancy also is projected to climb.
“It’s difficult to talk about exact numbers at the moment, but I’d estimate we’ll see a minimum 10 percent increase in arrivals from 2014 to 2017,” David Dodwell, chairman of the Bermuda Tourism Authority, said.