Mark Orams: Alert levels contributed to financial loss in hosting America's Cup
Early Edition with Ryan Bridge · Newstalk ZB
July 20, 20215m 35s
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Show Notes
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.”
LISTEN ABOVE
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.”
LISTEN ABOVE
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