Hashtag: #ACEconomy
BEDC: America’s Cup Benefits Local Economy
“This positive increase in revenue on the Island provides proof that the America’s Cup can benefit the local economy,” said BEDC Executive Director Erica Smith. The BEDC said, “The Louis Vuitton America’s Cup World Series Bermuda Economic Impact Report was released on Thursday, 25th February, 2016. The Report shows that the World Series,... Read more of this article
Dr Gibbons: America’s Cup Economic Update
Today in the House of Assembly, Minister of Economic Development Dr Grant Gibbons provided highlights from the economic impact report of the Louis Vuitton America’s Cup World Series, as well as an update on preparations for the America’s Cup in 2017. Dr Gibbons said, “Back in October of 2014, we projected that the potential economic... Read more of this article
America’s Cup Series Economic Impact Report
[Updated with video] The Louis Vuitton America’s Cup World Series was “an amazing weekend that exceeded many people’s expectations,” said Minister of Economic Development Dr. Grant Gibbons, who said that “$8.6M was injected into our economy by the event, with 70% of that coming from overseas sources, including visitor spending.” In... Read more of this article
Budget: America’s Cup Spending & Revenue
The total Government budget for America’s Cup related expenses during the 2016/17 fiscal year will be $24 million, Finance Minister Bob Richards said in today’s Budget Speech, adding that the hotel, retail, transportation and restaurant sectors reported healthy spikes over the World Series event and “it is anticipated that total additional... Read more of this article
America’s Cup Spending: Just Over $14 Million
The Government has spent just over $14 million on the America’s Cup as of December 2015, the House of Assembly heard on Friday, with the figures being provided by Minister of Economic Development Dr Grant Gibbons following Parliamentary Questions from MP Wayne Furbert. The first question asked by Mr Furbert was, “Will the Honourable Minister... Read more of this article
AC Licensee Opportunities Finish End Of January
Businesses with concepts for America’s Cup themed products have until the end of the month to apply to the 35th America’s Cup Local Licensing Programme, the ACEA said today. “Currently ten businesses have licensing agreements with the America’s Cup, selling a variety of branded products including Bermuda shorts, cedar pens, bags, a children’s... Read more of this article
Video: ‘Tourism Forward’ America’s Cup Episode
The fifth in a series of six public affairs TV programs the Bermuda Tourism Authority has been released, with the series aimed at informing the public of the BTA’s strategies to grow the island’s tourism economy. This episode of “Tourism Forward” deals with the America’s Cup and how the event is leveraged as a destination... Read more of this article
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... Read more of this article
Minister: AC Made A Difference To Businesses
Speaking in the Senate today [Dec 2], Minister of Home Affairs Michael Fahy provided an update on how small and medium-sized businesses are taking advantage of the the America’s Cup presence in Bermuda. “Since Bermuda did such a fantastic job in hosting the America’s Cup Louis Vuitton World Series in October, there have been questions asked... Read more of this article
Minister Gibbons Trip To Sweden Cost $3,863.19
A trip in August 2015 by Minister Dr Grant Gibbons to Gothenburg, Sweden to attend the America’s Cup World Series Event cost $3,863.19, according to a recent listing on the Government’s travel webpage. The trip duration was listed as from Friday, August 28, 2015 – Sunday, August 30, 2015, and the web page listing said, “Dr. the... Read more of this article
BTA: Cruise Ship Boost For 2017 America’s Cup
[Written by Don Burgess] Bermuda is set to get a cruise ship boost to accommodate more tourists during the America’s Cup in June 2017, according to the Bermuda Tourism Authority. One cruise line was in Bermuda over the Louis Vuitton America’s Cup World Series event, and the Bermuda Tourism Authority said there could be at least one announcement... Read more of this article
Podcast: CEO Mike Winfield On America’s Cup
The third episode of the Bernews podcast features a 38-minute interview with America’s Cup Bermuda [ACBDA] CEO Mike Winfield in which he discusses the economics, opportunities and some of the perception issues surrounding the event. Host Jeremy Deacon said, “Mike Winfield, the CEO of the ACBDA, is candid about the wider issues surrounding... Read more of this article
America’s Cup Economic Impact Forecast
[Written by Don Burgess] The economic impact of the America’s Cup could be bigger than originally forecast, according to Minister of Economic Development Dr. Grant Gibbons. The impact assessment by the Bermuda America’s Cup Bid Committee, released in October 2014, projected an economic impact of $242M for the island. Of that, $94.1M [38.9%] was... Read more of this article
Dr Gibbons On $25M AC Sponsorship Guarantee
[Written by Don Burgess] Bermuda has so far earned back more than $5 million of the $25 million sponsorship guarantee to the America’s Cup Event Authority. Dr. Grant Gibbons, Minister of Economic Development, told Bernews that Government was well on its way to clawback the sponsorship money as part of the deal for the America’s Cup. Bermuda can... Read more of this article
Uber Super Duper Wins AC Trophy Contest
Local creative studio Uber Super Duper won the America’s Cup competition to design a trophy for the winner of the Louis Vuitton America’s Cup World Series Bermuda event. Sami Lill, founder and creative director of Uber Super Duper conceived the winning design. With any array of locally sourced materials, Mr Lill worked with a diverse team of local... Read more of this article
Advertising Restrictions For AC World Series
A protective order has been issued restricting specific forms of unlicensed advertising that would “unfairly exploit” the America’s Cup World Series Event to be held this weekend, with the Ministry saying the restrictions are required to “protect the commercial interests of the America’s Cup Event Authority and any of its designated... Read more of this article
