Newport Bermuda Race generated an estimated $20.8 million

NEWPORT, RHODE ISLAND (May 14, 2013) – The Bermuda Race Organizing Committee (“BROC”) has released the results of an economic impact study which shows that the 2012 edition of the biennial Newport Bermuda Race generated an estimated $20.8 million in local expenditures for Newport and Bermuda.  This world famous ocean race is run jointly by the Cruising Club of America and the Royal Bermuda Yacht Club, members of which comprise the organizing committee that oversees the event.

The BROC commissioned the market research firm Bonnier Custom Insights to conduct an online survey among 2012 race participants to determine the economic impact of the Newport Bermuda Race.  The Race began in Newport, RI on June 15^th 2012, with 164 sailing yachts racing 635 miles from Newport to the islands of Bermuda.   156 yachts completed the course and were scored as finishing in Bermuda.  The survey asked race participants to estimate boat expenditures in both locations for race preparation, fuel, dockage, provisioning, repairs, equipment and supplies; as well as personal expenditures in both Newport and Bermuda for local travel costs including accommodations, dining out, local transportation, activities, shopping, gifts and souvenirs.   The survey was performed in February and March 2013.

The average expenditure per boat in Newport before the race was $12,255, for an estimated total of just over $2 million spent locally by the fleet to prepare for the race.  Race preparation and boat expenditures included berthing in Newport, new gear and equipment, repairs and cleaning/hauling if needed, fuel, provisions, etc.  Individual crew members reported significant spending personally in Newport for lodging, food, shopping and local transport, which tallied an impressive $7.1 million overall when calculated using an average of 10 crew members per boat.  The combined investment in Newport’s local economy added up to $9.1 million on boats, race preparation and local travel/hospitality.

Spending on boats in Bermuda was estimated at $6,515 per boat for a total of just over $1 million.   Personal spending was higher at the race’s destination, adding up to $10.7 million in Bermuda for all race participants combined.   Total expenditures in Bermuda on boats and personal travel/hospitality by the 2012 Newport Bermuda fleet came to an estimated $11.7 million.

Sailors who participated in the survey reported being happy with the hospitality and facilities of both Newport and Bermuda.  Race participants spent an average of 2 nights each in Newport before the start of the race, with 50% staying at hotels or B&Bs, and 12% renting private homes.  69% of race participants dined out while in Newport, and 30% of them went shopping.  The most popular activity aside from sailing was doing the Cliff Walk, with 13% of race participants making time to enjoy Newport’s famed seaside path.   94% of all race participants stated that they would recommend Newport as a place to visit.

Once the Bermuda Race sailors reached Bermuda, they stayed longer to enjoy the island’s unique charms.   The average number of nights ashore was 5, with 55% of participants staying in a hotel and 18% in guest houses.  83% of racers reported dining out in Bermuda, and 59% said that they did some shopping.  Going to the beach was the most popular activity (65%), followed by sailing (27%), snorkeling/scuba diving (29%) and touring the island (18%).   Once again 94% of the sailors said that they would recommend Bermuda as a place to visit.

Race chairman Fred Deichmann commented “This survey clearly demonstrates the significant economic benefit which the Newport Bermuda Race delivers to both Newport and Bermuda.   It also confirms the popularity of these great destinations with Bermuda Race participants, their friends and families.”

The 49^th Newport Bermuda Race will start at Newport on Friday, June 20, 2014.  The latest information about the race is always available at www.BermudaRace.com.

For more information on the 2012 Newport Bermuda Economic Impact Study please contact Fred Deichmann (chairman@bermudarace.com) or John Rousmaniere (media@bermudarace.com).  For information on sponsorship opportunities please contact sponsorship chairman Bjorn Johnson (johnsonbjornr@gmail.com) or Sally Helme (sally.helme@bonniercorp.com).