The event will feature eight national teams, including the league's newest entry – New Zealand.
The team will be Led by co-CEOs Peter Burling and Blair Tuke.
In Season 1, SailGP events delivered an average direct economic impact to host cities of $32 million and were broadcast to a total global audience of 256 million.
Eighteen Olympians with a total on 16 medals will be on the water in the spectator-friendly harbour with the boats capable of speeds in excess of 50 knots.
ChristchurchNZ general manager of destination and attraction, Loren Heaphy, said SailGP
represented a unique and unmissable opportunity for the city.
"This is an entirely different event to those we typically attract to Christchurch, and we jumped at the opportunity to bid to host SailGP.
"We are a city of sport and innovation, and SailGP combines these in a way only a handful of global sporting spectacles can. Major events bring vibrancy to the city, bring communities together and attract visitors, and stimulate economic activity."
SailGP is the brainchild of billionaire Oracle owner Larry Ellison and Sir Russell Coutts.