6. MELISSA LEE (National) Link to this
to the Minister for Economic Development
What support is the Government giving to attracting major events to New Zealand?
Hon GERRY BROWNLEE (Minister for Economic Development) Link to this
The Major Events Development Fund provides Government funding to add value to major events taking place in New Zealand. A great example of what the fund can achieve is seen in the announcement that New Zealand will host a stop-over in the 2011-12 Volvo Ocean Race. The Government is working in partnership with the Auckland City Council to enable this to happen. The Volvo Ocean Race is a high-profile, round-the-world yacht race held ever 3 years and spans a 9-month period, and that includes a number of stop-overs. These stop-overs provide significant economic benefits for host cities, generating millions of dollars of economic activity, and also increasing the global exposure of those countries’ ports and country. It will be a good event for New Zealand.
Hon GERRY BROWNLEE Link to this
I am glad the member asked me that question; it demonstrates that members on this side of the House are keen to know the economic benefits for the nation, when members on the other side clearly are not. The feasibility study prepared by Covec and jointly funded by the Government and the Auckland City Council estimated the direct expenditure benefits of hosting a stop-over at $15.3 million for Auckland and a further $12 million to $13 million in additional GDP nationally. It further estimated that $4 million to $8 million will be spent in the media sector. The benefits are likely to be significantly higher now, because Emirates Team New Zealand has confirmed that it will enter a boat in the campaign. It is sponsored by Camper, the Spanish-based international footwear manufacturer. The stop-over is likely to provide some long-term benefits. It will allow New Zealand to continue showcasing our world-class marine and shipbuilding industry.