Loss of America’s Cup ‘another country’s gain’

Cork Harbour is no longer in the running to host the 2024 America’s Cup following the Government’s decision to withdraw its bid for the world’s most prestigious yacht race.

The decision has been described by Cork Chamber as “disappointing and short sighted” given the potential economic, social and cultural benefits associated with the competition.

According to the President of Cork Chamber, Paula Cogan, the timing of the event would have provided a real boost for the economy in the immediate post-Covid-19 recovery era, as well as providing an opportunity to showcase the best of Irish hospitality, tourism and culture.

“Businesses here in Cork and across the country have now been denied the opportunity to benefit from the event,” said Ms Cogan.

She continued: “The gains associated with hosting the event had the potential to significantly outweigh the expenditure that would have been required to host it, and projects such as this require greater ambition and real engagement with local stakeholders. Lessons must be learned from this, only time will tell whether there will be reputational damage when consideration is being given to Ireland for hosting future global bids.”

Ms Cogan said the loss of the 2024 America’s Cup bid will be felt by everyone in Cork and in the wider region.

“This unique opportunity to recover and prosper with such a high-profile yachting race is now another country’s gain,” she said.

In a statement released on Monday, the Department of Tourism, Culture, Arts, Gaeltacht, Sport and Media said Ministers and the department had spent the past six months assessing the feasibility of Ireland hosting the event.

It read: “While Cork Harbour is potentially a great venue for the event, based on the technical assessment carried out, the necessary infrastructural and planning arrangements would not be in place to host the event in 2024.

“An event of the calibre of the America’s Cup brings with it an expectation of excellent delivery; the tight timeframe available prior to the 37th edition of the Cup brought with it a large risk of under-delivery.”

The remaining bids for hosting the 2024 America’s Cup are Malaga in Spain, Jeddah in Saudi Arabia, and last-minute bidders Barcelona, also in Spain.

A final decision on who will host the competition is to be made on Friday.