In 2013 the America’s Cup will come to the San Francisco Bay Area and bring with it a monstrous infusion of cash. This is the first time since 1995 that the race has come to the U.S.
Who will benefit from the influx of sailing enthusiasts and spectators? Well according to the San Francisco Business Times nearly every conceivable industry and category will benefit in some way.
Total visitors coming to the Bay Area may exceed 500,000 for the deciding races. Apartment building owners and real estate investors stand to benefit from an increase in tourism, jobs, rentals and parking demand.
The America’s Cup will bring in more money in 24 months than the San Francisco Giants, The San Francisco 49ers and the Oakland Raiders combined. According to a recent study by the Bay Area Council Economic Institute, there will be nearly $800 million of direct spending with a $1.4 billion total bay area impact from this incredible Bay Area event.
The three top categories which will benefit from the 3rd largest sporting event in the world will be:
- Running the America’s Cup
- People coming to watch the racing
- Building out the necessary infrastructure.
Most of the economic benefit will be seen in San Francisco however nearby counties such as Alameda will surely benefit particularly in areas of hospitality, marine industries, food, gift products, engineering and consulting.
The author of the study Jon Haveman is predicting 50,000 people attending on the weekends in August and September of 2012 and 100,000 to upwards of 500,000 people attending the main events in 2013.
One spectaculare piece of information about this America’s Cup; this event will have the fastest boats ever sailed in the closest proximity to viewers and with the highest technology in terms of on-boat visuals, cameras and projection. This event is shaping up to be an absolute stunning array of high dollar, heart pounding adrenaline, showmanship, bravado and technological prowess right here in our very own Bay Area! I’m just a real estate investor but I’m getting excited.
Just to offer a comparison, FIFA world cup brings in $13.4 billion, Olympics $10 billion, Super Bowl $612 billion. San Francisco’s Americas Cup is one of the largest sporting events in history, both in terms of dollars spent, technology used and heritage. Apartment building owners and real estate investors can capitalize on the influx of spectators and money from the America’s Cup leading up to 2013.
This event is going to transform the San Francisco Bay landscape and our local economy. To facilitate the coordination of business activity, America’s Cup Business Connect has been created. Its a web based one-stop shop for local companies to compete for business derrived from the America’s Cup.
Americas Cup will capture and provide Open Source Data from the start according to Stan Honey director of technology for the event. From the start they made the decision to give away the data they collect in this first even digitallyl tracked, GPS followed fully digitally augmented event. Rather than sell their data as many sporting event do, they have liberated the data and placed it into public domain which generates a huge blossoming of companies, ideas, artwork, applications and even new companies.
We should all feel very luck to have such a world class event in our own back yard. Get ready to increase your rents!