America's Cup was a 'deal of the century' that lifted Bermuda economy

Bermuda praised the America's Cup event as "the deal of the century" after hosting the event provided the silver bullet to boost the tiny islands economy. Photo / Getty

The tiny island nation of Bermuda continued to talk up the economic benefits from hosting the 35th America's Cup, describing it as "the deal of the century".

Figures informed the regatta had significantly boosted Bermuda's economy, despite a $111m infrastructure package cost and $22m event fee.

In discussion of the recent economic report, former Premier Michael Dunkley told Bermuda's House of Assembly they dug Bermuda "out of the hole called economic abyss".

"Bermuda today is in a better position ... The America's Cup was a huge undertaking, which helped us dig out and, using a cricket analogy, we hit it for six," he told Bernews

"All of Bermuda is in a better place because of it and it is now up to us to build on that success and create the significant legacy that is available."

Broadcasted in 163 countries by 31 broadcasters to 452m people, Dunkley said hosting the Cup put the island on the map.

"There were 22k news articles printed about AC 2017 published in 76 countries. Talk about reach and putting Bermuda on the map," he said, "All of this advertising equates to 80.9m in Advertising Equivalent Value [AEV]."

"This in itself is the deal of the century and I challenge anyone to show me another deal as favourable as this. Furthermore we have access to all footage to use at our desire."

The report revealed that for every $100 invested by the Bermuda government in holding the event, more than $500 was received in additional spending.

Meanwhile, Auckland and the New Zealand government are still weighing up the options and costs of hosting the 2021 Cup voting on the two syndicate base options on December 14.

With Italy, United Arab Emirates and Russia all interested in hosting the next America's Cup, Auckland will have to confirm by the end of next August whether they are willing and able to host the regatta.