America’s Cup is a world-renowned sporting event that draws millions of fans and sailing enthusiasts who come to witness intriguing races and breathtaking historical events. As a result, any nation would be willing and honored to host these competitions because of the associated economic benefits and a boom in local businesses since regional products would be exposed to diverse individuals. However, Team New Zealand rejected its government’s bid to host the championship race in their country due to conflicting commercial interests. The team dismissed the proposal arguing that the money invested was insufficient to cater to the costs of hosting the America’s Cup and covering the associated costs. However, the New Zealand government should have committed more public funding to secure hosting the competitions because it would significantly improve the region’s infrastructure, benefit the team, and secure future investment by boosting regional business prospects and welcoming developers.
Mega-sporting events and global competitions have social, cultural, and economic implications in the hosting country. For example, they do not only attract fans but also potential business partners and potential investors who can significantly advance infrastructural and technological developments in an area. Therefore, one reason why the New Zealand government should have offered more money to host the event is its potential economic growth and regional development implications (Zhang et al., 2018). Preparing for world events and meeting international standards to hold global games and competitions is challenging, considering the levels of security and supportive infrastructure required to ensure comfortable accommodation. As a result, national governments, in collaboration with sporting partners and other organizations, expedite the advancement of industries, especially in construction and building, and hospitality (Nyikana & Tichaawa, 2018). Subsequently, amenities such as roads, hospitals, organized transport networks, improved supply and distribution chains, and high levels of security are critical for a nation’s long-term development due to their sustainability. Therefore, since New Zealand is planning to embark on major regional and technological developments in the future, it would have been wise to spend more money as this would help them to hasten their progress toward their ultimate goals.
Additionally, investing more funding into the project would have benefited the New Zealand team as it would ensure access to more training materials and put officials in a better position to counter financial constraints. The professionals behind designing racing equipment and machinery utilize numerous resources in engineering, research, and design to ascertain that they have the most powerful racing boats compared to their competitors (Zhang et al., 2018). In addition, the New Zealand racing team requires costly gear and amenities to facilitate high-quality training before and after the competition. Moreover, setting up the sporting contests involves several activities, such as assuring the players’ and fans’ safety and the incorporation of advanced technological solutions to aid in assessing the competition and verifying that all initiatives are carried out as required. Moreover, reimbursing crew members, race technicians, team officials, and administrators are critical to ensure that they have the means to deliver on their obligations (Thomson et al., 2019). Thus, offering more money to host the competition would have eliminated any potential issues and financial setbacks that would interfere with the event’s and team’s success.
Additional investments would have served as motivation for the team members and officials as it shows that the government values their contribution and is ready to offer support. Team New Zealand was set to compete against the world’s toughest team to retain the trophy and hold on to their title as the cup’s defender (Storm & Jakobsen, 2020). Therefore, compromising and offering the team more money to host the competition in the country would have encouraged them to perform better and avoid disappointing the nation’s citizens and its government. Moreover, the surplus obtained from the funding can be used to cater to team members’ issues, increase their benefits, and allow them to live comfortable life so that they can focus on improving their skills and performing to their best (Thomson et al., 2019). Therefore, the New Zealand Team requires significant funding to empower them to beat their rivals and secure the cup. Hence, the government’s contribution would have served a major role in the team’s well-being, continuous growth, and the competition’s success.
Moreover, additional funding would have ensured the team’s continuity as the nation would gain international recognition and more opportunities to participate in and host other sporting events within their territory. The Americas Cup is an event televised on major sports and news channels globally (Elahi et al., 2021). Additionally, millions of individuals including sports organizations in other fields, are always tuned in to follow through with the competition’s proceedings. As a result, hosting the event in New Zealand would have uncovered the region’s development to the rest of the world and its high levels of sportsmanship (Storm & Jakobsen, 2020). Therefore, apart from enhancing its national pride, the organization would have proven its worth and reliability in managing global sporting events. As a result, the government would have secured unmatched opportunities to host more events, generate more income from ticket sales, and boost its business. Moreover, hosting the event in New Zealand would have given the team a chance to host smaller yacht racing sports in the region and ensure their continuity.
Finally, increasing the bid offered to host America’s Cup would have encouraged future investments in the region by boosting business activities and attracting developers. International events attract sports enthusiasts, regional leaders, and tourists who come for the sake of familiarizing themselves with the area and recreation. Therefore, more funding would have allowed small business owners to capitalize on the event and make money in a short period when there is a diverse consumer base and unlimited opportunities (Elahi et al., 2021). Hence, increased investment in the games would translate to more business and profits for small and medium enterprises in the region. Investors measure the viability of regional markets by the success of other businesses and thriving industries. Thus, booming regional prospects would have encouraged long-term developers and investors to set up operations within New Zealand’s boundaries (Zhang et al., 2018). Ultimately, advanced technology, reliable infrastructure, and the presence of international commercial players in the country will have positive implications on its growth and the well-being of future generations.
The main argument against offering more to host the event was its significantly high costs amid other pressing issues, such as a strain on public health resources due to the Coronavirus. The government of New Zealand and other global governments have been struggling with the implications of Covid 19 on their resources as the pandemic significantly interfered with business activities and increased healthcare costs (Antipova, 2020). Therefore, it would be unwise to spend a lump sum of money on sporting activities when there were more issues to worry about, including empowering business owners and facilitating a supportive environment for gradual and continuous growth. Nevertheless, the main points for supporting increased funding are the potential short and long-term economic and social benefits. Although the Coronavirus pandemic has had adverse implications on global economies and harmed several industries, including sports, many nations are working towards recovery by adapting to the new normal (Antipova, 2020). Thus, instead of limiting business prospects to deal with the uncertainties of the pandemic, the New Zealand government should focus on strengthening its economy and empowering its people. Hence, hosting a global event would present unmatched social, economic, and advancement opportunities.
Some individuals also argue that spending more on the bid to secure hosting is unreasonable due to its potential to harm other sectors and strain developments in other industries. The New Zealand government has a national budget that they use to distribute resources to various industries and sectors, including agriculture, healthcare, and education. Thus, contributing more than planned would mean that taxpayers will be obligated to pay higher taxes in the future to cater to budget deficits (Elahi et al., 2021). Additionally, using taxpayer funding for reasons other than its intended purposes can prevent other sectors from progressing and achieving their sustainability goals (Jiménez-García et al., 2020). Therefore, producing more funds is not justified as it would cause unnecessary strain on the nation’s economy and its citizen’s development. Although the argument is reasonable, the New Zealand treasury can hardly go bankrupt and fail to sufficiently fund other sectors because its assets exceed its liabilities (Zhang et al., 2018). In addition, the government has various income resources that they use to manage financial risks and mitigate the nation against a crisis. Hence, hosting the event would not adversely affect other industries.
Similarly, some people argue that focusing on current needs is more critical than an uncertain future because several issues can affect the event’s success and its potential benefits. For example, global disasters such as the Coronavirus pandemic halted business processes as governments worldwide ceased international transport and banned goods’ imports and exports (Antipova, 2020). Therefore, unfavorable circumstances can render the developments unusable and result in huge losses. The New Zealand government is better positioned to offer its citizens assistance and intervene in case of calamities as long as they have the resources to sustain recovery. Therefore, the opposition to the funding increase would propose that it is unwise to invest all that money in the event that does not ascertain fixed returns at the cost of taxpayers’ financing (Zhang et al., 2018). Nevertheless, Storm & Jakobsen, (2020) argue that the success of major sporting events largely depends on the resources put in and strategies adopted to limit adversities. Thus, instead of focusing on the potential hardships that the event might face, it is better to focus on strategic planning and developing a comprehensive framework to ensure that everything goes as planned.
Missing the chance to host America’s Cup came as a big blow to New Zealand’s citizens as they expected the team to select their home grounds as the location where they would defend their trophy. However, the team declined the offer because the funds provided did not meet their demands. Although some issues, such as increased government spending and hardships facilitated by the Pandemic, are worth considering, the factors are controllable with appropriate planning and dedication to the ultimate goals. Therefore, investing more would have had positive implications on the nations, future as it would help them achieve national pride, higher international status, and economic development. Similarly, it would have encouraged the government to dedicate more time to ensuring the fitness and well-being of their team as their success would encourage more developments in the sport.
There are several reasons why hosting an international sporting event such as America’s Cup is an unmatched opportunity for a country. Sporting events attract millions of fans and put a country on the international map by uncovering unique investment opportunities. If New Zealand increased its bid, it would have secured a chance to hasten infrastructural developments in the region and boost its business. In addition, investing in sporting activities helps to improve training facilities, cater to administrative issues, and limit financial constraints. Moreover, it increases players’ motivation as they feel valued and respected. Although the move would have exposed the country to hardships in case the event failed and would stress its economic resources and other sectors, hosting America’s Cup has several positive long-term implications that are worth the risk. As a result, increasing their bid and investing more would have been a good decision for the New Zealand Government because of the unmatched opportunities and advancement prospects.
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