A news conference will be held on Thursday, at 2pm to release the findings of the much anticipated report on the Economic, Environmental and Social Impact of the 35th America’s Cup on Bermuda, and ACBDA Legacy Reports.
A spokeswoman for the ACBDA announced this morning, that the media conference will be held at 2pm, on Thursday, November 9th at the ACBDA office on Front Street at Windward Place on East Broadway in Hamilton.
This news site reported in October, that the independent assessment by PriceWaterhouseCoopers (PWC) Limited, commissioned by the former One Bermuda Alliance (OBA) government, was due to be previewed by the new Cabinet, prior to the release tomorrow.
The report, commissioned by the ACBDA in January, collected information from the participating AC teams and event organisers on their personal and business on-island spending, to measure how the AC impacted the island and which sectors benefited.
According to former OBA Minister of Economic Development, Dr Grant Gibbons said the economic impact report will cover the social and environmental impact of hosting AC35, which he said was comparable to previous studies compiled by other AC host venues, like San Francisco and New Zealand.
The ACBDA was also due to produce a report by September detailing their work and describing how the AC35 was delivered. He also noted that the ACBDA was scheduled to “wind down by the end of the calendar year”. Since then, the new government administration has proceeded with plans to transform the ACBDA into the Bermuda Event Authority (BEA).
Prior to the change in government, Dr Gibbons said more than 100,000 people visited the AC Village over 22 days, with 62,315 booked tickets sold for the special AC ferries. Some 2,000 boats were also registered as spectator crafts.
“Bermuda hosted over 460 visiting boats, with over 80 of them superyachts,” he said. He also stated that more than 30 small buisnesses were beneficiaries, including some new businesses, that saw “huge food and beverage sales”, that also generated interest in hosting more regattas in Bermuda.
It was also noted that the Endeavour Sailing Programme was susbsequently funded privately through to 2018. And the future of the Red Bull AC Youth Championship is still up for discussion.