Three out of four residents believe the America’s Cup will be beneficial to the Island, according to a survey conducted by Bermuda College.
But more than half of respondents also felt the $77 million allocated to the event could have been better spent.
The survey results revealed that:
• 77 per cent of respondents believed Bermuda would benefit economically, either to a great extent or somewhat, from hosting AC35.
• 73 per cent 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 per cent were either very or somewhat excited about the opportunity to host AC35.
• 58 per cent believed that the $77 million committed to AC35 should have been spent on more pressing issues.
The college’s senior marketing and tourism lecturer, Shawn DeShields, and institutional research and planning officer, Cordell Riley, have co-authored a paper based on the survey, exploring the potential economic and social impacts of Bermuda hosting the 2017 regatta.
It was presented at the third International Conference on Emerging Paradigms in Business and Social Sciences, held in Dubai. 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.
Keynote speaker for the conference was Dimitrios Buhalis of Bournemouth University, an expert on how technology impacts tourism.
The professor was described as 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 tenth anniversary as a campus in Dubai.
Conference objectives allowed discussion of “new concepts, new methodologies and new practices within the world of business and the wider social sciences”.
The survey of 650 residents had a margin of error of plus or minus 3.8 per cent.
This story appeared in The Royal Gazette on December 10th, 2015.