Making the call to invest public money in these events is always a balancing act. Some question whether the cash could be better spent elsewhere and others criticise what they see as funding that is skewed towards "elite" sports and meetings. It is not always an easy call for politicians to make.
But in the case of the America's Cup, for example, the estimated economic benefit is between $550m and $1 billion. Many of the people who developed Emirates Team NZ's carbon fibre technology have gone on to develop carbon composites for Rocket Lab rockets and new technology from the R & D programme has flowed through to the general marine industry.
The New Zealand Government has been a partner to Auckland in many of these events, including through the New Zealand Major Events Fund, which promise significant immediate and long-term benefits to Auckland and the whole country.
Key to unlocking those benefits is how we leverage these meetings and fixtures, whether it be as a shop front for New Zealand as a tourist destination or as a country of smart, skilled workers and businesses.
This is what we should all be looking to do in Auckland in 2021; showcasing New Zealand as a vibrant place to live, visit, and invest. I know Auckland is up for it.
Big events on the 2021 calendar
Prada Cup (America's Cup Challenger Series
Auckland, January/February
America's Cup
Auckland, 6-21 March
2021 Women's Cricket World Cup
Nationwide, February
2021 Softball Men's World Cup
Auckland (North Harbour), 19-28 February
2021 ICF Junior/U23 canoe slalom world championships
WERO Manukau, Auckland, April
2021 Women's Rugby World Cup
Auckland-Whangarei, July-August (tbc).