Study Says Cup Worth $911 Million to Economy
From Staff and Wire Reports
SAN DIEGO —
The 1992 America’s Cup races and the two-year buildup to them will add $911 million to the San Diego-area economy, a report released Thursday concluded.
The study, conducted by Economics Research Group of the University of San Diego, said $405 million would be in direct spending, with $275 million in visitor spending.
Another $506 million would come from induced spending, generated by by the profits, income and wages derived from the direct spending of visitors and participating syndicates.
State, city and other government agencies are expected to receive $43.2 million in revenue from the events, the study said. This would include approximately $11 million to the City of San Diego in the form of occupancy and sales taxes.
