RWC worth US$1.21 billion to NZ over eight years
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The Rugby World Cup 2011 (RCW2011) is tipped to generate millions of dollars for New Zealand’s tourism industry. Worldwide, the tournament could generate US$1.67 billion for the global sports economy and US$654 million in tourism revenues for New Zealand.
These estimates were issued by MasterCard Worldwide yesterday, which predicts that sport associated economic activity may be worth up to US$11.7 billion to the New Zealand economy by the end of the decade.
In the short-term, commerce flow will be driven by international fans’ spending in bars, clubs, shops, hotels, bookmakers and inside host stadia. Tourist revenues, therefore, are forecast to receive a significant boost. Hotel revenues will rise during the competition as fans and tourists spend US$204.1 million on accommodation and an additional US$187.7 million on food & beverage.
Examining at the long-term impacts of the tournament on the economy, the report estimates that increased tourism, civic sponsorship and business development resulting from the tournament is estimated to be US$1.21 billion by 2020.
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