Barcelona came out winning with the America's Cup. A study prepared by the University of Barcelona (UB) commissioned by the Barcelona Capital Nàutica Foundation (FBCN) has placed the regatta's contribution to the Catalan Gross Domestic Product (GDP) at 1,034 million euros, a figure that exceeds the more than 1,000 million impact that the competition was expected to have on the city.
Thus, the study confirms the positive balance of the regatta, which generated a turnover of 17.9 euros for every euro of public spending allocated to the event, which amounted to about 70 million euros contributed by the administrations. Similarly, for every euro of public spending there has been a return for the public sector of 3.3 euros in tax revenues and contributions, so "the celebration has had more benefits than costs for the city and for Catalonia," according to the FBCN.
The CEO of America's Cup Event (ACE) and the New Zealand team, Grant Dalton, has agreed to celebrate the results. "It is enormously satisfying to see that the America's Cup has made such a significantly positive economic contribution to the GDP of Barcelona and Catalonia," he assured. Thus, although the event will not be repeated in the city, this edition "will be remembered as one of the best so far."
Of the total economic impact, Barcelona concentrated 65%, with 663 million euros and 8,500 jobsIn addition, the study determines that the competition generated more than 12,800 jobs, which translated into generated tax revenues of 208 million, with a final collection for Catalonia of 82 million. Of the total economic impact, Barcelona concentrated 65%, with 663 million euros and 8,500 jobs, while the most benefited sectors were hospitality and commerce, but also other professional, scientific and technical activities. The organization also highlighted that 90% of the 380 suppliers were local companies.
More than 1.8 million visits
During the almost 60 days that the competition lasted, which extended from August to October, more than 1.8 million visits were recorded to the places from which the competition could be followed, both in and out of the water. This figure includes 460,000 people who came to Barcelona specifically to see the event. In addition, as the study highlights, the spending of attendees was higher than usual for tourists.
To witness the event, three areas with more than 32,000 square meters in total of free access were made available to attendees. At the other extreme, 244 superyachts also came to the city, injecting 35 million euros into the local economy.
Attendees were responsible for 57% of the direct impact that the competition had on the city, while 23% corresponded to the participating teams, which brought more than 1,000 members to the city. For its part, 15% of the impact came from public and private institutions, while 4% was from sponsors, and 0.4% came from media. The members of the volunteer team also had a contribution, of 0.1% of the impact. This figure was influenced by the fact that, of the 2,300 volunteers of the so-called Team B, 78% were residents of the city.
The most watched edition
The impact, however, went beyond the city: the event attracted an audience of 954 million television viewers. In addition, it registered a 235% increase in total social media views, including 9.6 million hours of viewing on YouTube. With these figures, the Barcelona edition has become the most watched America's Cup in its history.
The study, led by Professor of Applied Economics Jordi Suriñach, also highlights the impact generated by the competition in terms of the legacy it has left in Barcelona, ranging from urban development actions such as that of Port Vell and Port Olímpic, to the promotion of the blue economy and the innovative ecosystem that moves around the sector, including sailing promotion programs in schools, with the aim of bringing this sport closer to the people of Barcelona.