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Withdrawal of America’s Cup Bid a Missed Opportunity with Potential Reputational Damage Say Cork Chamber of Commerce

29th March 2022

The decision by Government to withdraw its America's Cup bid to host what would have been a once in a lifetime event is disappointing and short-sighted given the potential economic, social, and cultural benefits associated with the competition, according to the Cork Chamber of Commerce.

President of Cork Chamber, Paula Cogan commented, “The timing of this event would have provided a real boost for the economy in the immediate post-Covid recovery era. As well as the economic benefit, it was an opportunity to showcase the best of Irish hospitality, tourism and culture. Businesses here in Cork and across the country have now been denied the opportunity to benefit from the event”.

“The gains associated with hosting the event had the potential to significantly outweigh the expenditure that would have been required to host it, and projects such as this require greater ambition and real engagement with local stakeholders. Lessons must be learned from this, only time will tell whether there will be reputational damage when consideration is being given to Ireland for hosting future global bids”.

“The loss of the 2024 America’s Cup bid will be felt by all here in Cork and in the wider region, and this unique opportunity to recover and prosper with such a high-profile yachting race is now another country’s gain”.

Published in America's Cup
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