Research On Impact Of Hosting America’s Cup
Senior Marketing & Tourism Lecturer Shawn DeShields and Institutional Research and Planning Officer Cordell Riley recently co-authored a paper on the potential economic and social impacts of Bermuda’s hosting of the America’s Cup 35.
A Bermuda College spokesperson said, “The paper was presented at the 3rd International Conference on Emerging Paradigms in Business and Social Sciences, held in Dubai [UAE].
“Titled ‘Resident Perceptions on the Economic and Social Impacts of Bermuda Hosting the Event,’ and using an econometric model, their research sought to estimate the potential financial impact to hotels as a result of hosting the event. A survey was conducted among 650 residents to gauge their feelings, and had a margin of error of plus or minus 3.8%.
“It found:
- “77 percent of respondents believed Bermuda would benefit economically, either to a great extent or somewhat, from hosting AC35
- 73 percent agreed either strongly or somewhat that by hosting AC35, it would go a long way to restoring Bermuda’s image as a premium tourism destination
- 68 percent were either very or somewhat excited about the opportunity to host AC35
- 58 percent believed that the $77 million committed to AC35 should have been spent on more pressing issues
“Keynote speaker for the Conference was Professor Dimitrios Buhalis of Bournemouth University, an expert on how technology impacts tourism. He is one of the most cited authors in the tourism field, and attended the Bermuda presentation.
“A public forum for a local audience is being planned by the College for the New Year.
“The Conference was hosted by Middlesex University [UK], as it celebrated its 10th anniversary as a campus in Dubai. Conference objectives allow discussion of “new concepts, new methodologies and new practices within the world of business and the wider social sciences.”
Contradictory answers for 10-20 percent of respondents.
I wonder who they asked cause they didn’t ask me and de boys!!!!!!!!!!!
Be interested in what question was used to develop that 4th poll response on the 58% for the $77 million.
I think that answer says more about the state of education in Bermuda than it does about America’s Cup
It’s not $77 million. Can we stop repeating that misinformation?
That’s what SpongeBob said.
Mmmmmmm
Oh I forgot that was Fuzzied.
LMFAO
“58 percent believed that the $77 million committed to AC35 should have been spent on more pressing issues”
I am constantly surprised how this figure of $77m is misrepresented. Most people seem to have difficultly grasping the fairly basic concept that the $77m was spent to generate future revenue i.e. more hotel rooms, more restaurant traffic, increased demand for rental homes etc etc. You cant look at the $77m in isolation.
Just like you cant look at lost revenues for our future airport without also factoring in the future expense savings. You can’t have one without the other.
Also that 77 million was put into infrastructure, you worked on a site you got paid from the 77m.
Òk,that was a few hundred thousand, keep counting.
So we paid a few Billionaires and Millionaires $77 Million so the Elite could network and those in the circle get contracts.
Mmmmmm
Grand Atlantic $50m
Swimming pool estimate $7m cost $25m
returfing golf course estimate $5m cost $25m
There’s $100m making some people millionaires using our money.
I am glad to see that with the PLP split, you managed to keep your job. Looks like you will be doing a lot of overtime spinning .
Also, it’s not $77 million. The true figure is $52 million over three years. There is also a $25 million sponsorship guarantee of which approx. $5 million has already been generated. With almost 2 more years to get the additional sponsorship, I would say this is money well spent. Look how many other events have been attracted to Bermuda because of America’s Cup. The Amlin Moth series is being sailed right now. And many others are coming during the next few years. America’s Cup has helped put Bermuda back on the map.
wow 77M is a lot of money wen u dont want to see beyond the number. how about 2.4B now thats a even bigger number isnt it….yup thats was the price of change so its not too bad is it.
$77 Million in a few years, SpongeBob’s $800 Million in a few years.
Mmmmm
Fuzzy maths
Burt math?
These gentlemen must be using there own paradigm (pattern) when they did their survey. If Bermuda College provided the funding for this Paper and trip to Dubai all the details should be released to the public or at least to the 650 residents who participated.
you guys are missing the point…you should question the relevance of the survey itself. Not whether there will be a net economic benefit from AC in Bermuda.
this “research” is really just a poll. its really no different than asking laymen to speculate on something they cant possibly know about. e.g. how many shares will trade on the BSX next week ( though that’s easy- probably less than 7 ). but to present these findings as remotely close to any real statistically meaningful information about the effect of AC on the economy is perilous. the outcome of the respondents’ attitudes are not even close to a predictor of the outcomes.
Thank you very much. Exactly.