Each euro in investments and current expenses with an impact will generate 6.35 euros of GDP in the Catalan economy
BARCELONA, 2 Jun. (EUROPA PRESS) –
The 37th edition of the America’s Cup of sailing, which will be held in Barcelona in 2024, will generate an economic impact of 19,000 jobs and 1,200 million euros for the Ciudad Condal, according to the report from the Pompeu Fabra University commissioned by the Fundació Barcelona Capital Nàutica (FBCN).
The Copa América, the most important nautical competition in the world, is considered the third sporting event with the greatest economic impact for the host country after the Olympic Games and the World Cup.
It is a great opportunity for the host city, since it brings important economic benefits such as attracting visitors, but also others such as the development of social and business initiatives linked to the nautical sector, the possibility of having investments in infrastructures and a great visibility around the world.
All this positive impact on the economy and the prestige of the city is included in the previous study prepared by the Universitat Pompeu Fabra, calculated based on the information available in December 2022 and taking into account that the particular conditions of this edition regarding to the previous ones.
The report contemplates that the impact expenses associated with the celebration of the Copa América amount to 1,115 million euros. Of the total expenses, it is estimated that 195 million correspond to investments and organization, 231 million to the expenses of the participating teams and 689 million are the expenses derived from the 2.5 million visits planned by the organization in the 2 months of the competition.
All these expenses for the celebration of the Copa América will mean an increase in the productive activity of the Catalan economy that will mean 1,239 million euros in added value, which represents approximately 0.5% of the GDP of Catalonia in 2022 and the creation of nearly 19,000 jobs. For this reason, for each euro in investments and current expenses with an impact, 6.35 euros of GDP will be generated in the Catalan economy.
LARGE EVENTS AS AN ECONOMIC ENGINE
The legacy of the Copa América in Barcelona contemplates that the actions implemented bear fruit in aspects such as sustainability, sport, blue economy, culture and heritage, citizen participation, city and territory, and territorial projection.
In fact, the America’s Cup has chosen Barcelona because it has a “solid project” and all the institutions are working together with the support of the private sector as an example of public-private collaboration.
The impact means that during the development of the event the number of visitors, the consumption of goods and services, internal displacements, the creation of jobs, the promotion and revitalization of trade, the media impact, increase.
Also prior to the event, but also during and after it, public investments are carried out in urban infrastructures, construction and improvement of sports facilities, improvements in urban mobility, creation of open-air public spaces, promotion of business activities linked to the nautical sector. and promotion of sailing and water sports, visibility of the image of the city and the territory.
If in 1992, with the Olympic Games, the city looked to the sea, now, the celebration of the Copa América in Barcelona in 2024 is the opportunity to demonstrate the international potential of the territory and to open the sea to the whole world. This is the main idea of the motto with which the Fundació Barcelona Capital Nàutica presents itself.