Americas Cup brings cash bonanza but rows too

26th March 2007, Comments 0 comments

26 March 2007, VALENCIA – The Americas Cup, which is due to begin in Valencia next month, has been dogged by rows between Madrid and the city council, it was claimed on Monday.

26 March 2007

VALENCIA – The Americas Cup, which is due to begin in Valencia next month, has been dogged by rows between Madrid and the city council, it was claimed on Monday.

Jordi Sevilla, minister of public works, said central government had done everything to prepare the city for a sporting event which attracted as much attention and income as the World Cup.

But he claimed the city council, run by the conservative Popular Party, had done nothing to work with the socialist government.

Meanwhile, a study published on Monday claimed the competition, which is due to start on 16 April, will bring EUR 6 billion. Of this, Valencia is expected to net EUR 3.6bn and Spain as a whole should reap EUR 2.4bn in financial benefits. 

In terms of jobs it is expected to attract, the study claimed at least 40,000 new posts would be created in the city and 20,000 for surrounding regions through indirect benefits.

The Americas Cup, which has been going for 152 years, is one of the most glamorous sporting events in the world.

Valencia beat Lisbon, Marseilles and Naples to stage the competition,

The event has already cost some EUR 1.9 billion in preparations. But the study claims for every euro invested, Spain should get back three.

There are expected to be 300,000 tourists, with each of those expected to spend about EUR 80 per day.

It is also expected to put Valencia on the international map.

Javier Gómez Navarro, president of the National Chambers of Commerce, cited the example of Barcelona.

“Before 1992, Barcelona’s tourism was inexistent, its importance was commercial. After the Games in 1992, tourism really started there.”

Sevilla said central government had been given no help by the mayor of Valencia, Rita Barbera.

He said most of the infrastructure had been built by the National Ports Network, not the city council.

Barbera was unavailable for comment.

[Copyright EFE with Expatica]

Subject: Spanish news

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