Research Studies Residents’ Perceptions Of AC
A peer-reviewed paper titled “The Economic Impacts and Perceptions of Residents, of Bermuda Hosting the 35th America’s Cup,” which outlines a study conducted by Bermuda College’s Senior Marketing Lecturer Shawn Deshields and Institutional Research Officer Cordell Riley, offers a number of insights into local perception of the event.
A spokesperson said, “In 2015, when news of the potential for Bermuda hosting the America’s Cup began to surface, more than three-quarters of Bermuda residents [76.7%] felt that the Island would economically benefit from hosting the races. This was just one of the findings of a study conducted by Bermuda College’s Senior Marketing Lecturer Shawn Deshields and Institutional Research Officer Cordell Riley.
“The peer-reviewed paper, titled “The Economic Impacts and Perceptions of Residents, of Bermuda Hosting the 35th America’s Cup”, was presented at the Third International Conference on Emerging Research Paradigms in Business and Social Science, hosted by Middlesex University, Dubai in November 2015.
“From an economic perspective, the paper targeted the impact of the race series on hotels using Bermuda Tourism Authority’s forecast data.
“Some of the other findings of the perception study included:
- 68.2% of residents were either very or somewhat excited about the opportunity to host AC35.
- 72.5% felt that by hosting AC35, the event would go a long way to restoring Bermuda’s reputation as a premium tourism destination.
- 68% believed that the Bermuda Tourism Authority should make sports tourism a priority as a way to revive the industry.
- However, just 16.2% of residents were very aware of America’s Cup sailing races prior to Bermuda winning the bid to host them
- And while residents acknowledged the positive and tangible benefits of hosting AC35, more than half [58%] felt that the $77 million that was pledged to host the event would have been better spent on alleviating Bermuda’s social ills.
“With regard to the economic impacts, the study found that the impact on hotels may be less than anticipated as the amount of hotel visitors may not live up to projections. Furthermore, with regard to legacy tourism, [the amount of tourists that would come to a destination as a result of media exposure to an event hosted there], the authors’ research of literature suggested that legacy impacts were minimal.
“One researcher positing that heightened media coverage about the event could raise awareness of the event and drive traffic to current and future events but not to previous hosts of the event.
“The authors are making this study available as a matter of public interest and hope to update it when the relevant data on AC35 become available. The paper is available at the Bermuda College Bookstore and Brown & Co. for $7.50.”
Seeing as this study was done in 2015 it would be interesting to have another done after the fact. Close to half of the money spent was on building the Cross Island which will generate much needed opportunity and revenue. Also much of the AC helped address social issues on the island especially in support of children and families. As Martha Myron showed in multiplier effect article, this allowed other monies to go other social needs. The AC was a significant accomplishment which needs to be further built upon.
Talk about harping on the negatives Cordell !!
Totally agree with Derek A.G. Jones’ comments.
Now that the event is over, and a report will be forthcoming according to ACBDA, it seems appropriate a follow up study be done to ascertain the actual economic impact and local perceptions after the report is released.
Is this a forecasted economic impact? How can you possibly determine the economic impact until after the fact. Why would the public pay $7.50 for a document that cannot begin to compare with the concrete conclusions of the experts in the field, such as accountants, accounting managers, economists etc.etc. when the event is over. This seems like a pointless exercise to me.
It looks like it had a positive stimulus on the authors who will make a few dollars from this project