Newport To Bermuda Race: $11.7M In Spending
The Bermuda Race Organizing Committee [BROC] released the results of an economic impact study which shows that the 2012 Newport Bermuda Race generated an estimated $11.7 million worth of spending in Bermuda.
The BROC commissioned the market research firm Bonnier Custom Insights to conduct an online survey among 2012 race participants to determine the economic impact of the Newport Bermuda Race. The Race began in Newport, RI on June 15th 2012, with 164 sailing yachts racing 635 miles from Newport to Bermuda, with 156 yachts completing the course.
Spending on boats in Bermuda was estimated at $6,515 per boat for a total of just over $1 million. Personal spending was higher at the race’s destination, adding up to $10.7 million in Bermuda for all race participants combined. Total expenditures in Bermuda on boats and personal travel/hospitality by the 2012 Newport Bermuda fleet came to an estimated $11.7 million.
Once the Bermuda Race sailors reached Bermuda, they stayed longer to enjoy the island’s charms. The average number of nights ashore was 5, with 55% of participants staying in a hotel and 18% in guest houses.
83% of racers reported dining out in Bermuda, and 59% said that they did some shopping. Going to the beach was the most popular activity (65%), followed by sailing (27%), snorkeling/scuba diving (29%) and touring the island (18%). Once again 94% of the sailors said that they would recommend Bermuda as a place to visit.
Race chairman Fred Deichmann said, “This survey clearly demonstrates the significant economic benefit which the Newport Bermuda Race delivers to both Newport and Bermuda. It also confirms the popularity of these great destinations with Bermuda Race participants, their friends and families.”
That’s nothing, the PLP outspent them lot 24/7!
And this event has nothing to do with the DoT. This along with the ever successful and lucrative (for Bermuda) World Rugby Classic highlights how the private sector gets it done in a much more effective manner than any politician or political party.
This reminds me of a story told about the body parts wanting to be the boss. First the brain says,”I should be the boss, I do all the thinking and control everything. (2nd)The legs claims they should be the boss for they carry every other part around…(3rd0 the hands stated they want ot be boss because they pick-up stuff to assist other parts of the body…Well each pat of the body fought amongst themselves stating how and why they should be the boss. Then the rectum say well I will no-longer work!
So the rectum stopped working the brain became foggy the legs and arms had also gotten weak and no part was opporating as they’d been designed to operate…
The moral of this “tale” is, “one doesn’t have to be a brain to be the boss… just an asssss’hole”