Critics in New Zealand are again raising questions over the alleged benefits of international sporting events. Recent data published by the Bank of New Zealand shows no ‘bounce’ in economic activity as a result of the Rugby World Cup (RWC). In fact the Performance Service Index, which includes tourism, actually recorded a 0.6% decline in economic growth during September.
Business New Zealand Chief Executive, Phil O’Reilly, told the National Business Review; “While Rugby World Cup games throughout the country over September have brought some businesses additional sales, others have lost out through consumers diverting spending from normal activities.”
One national bank analyst argues, however, that so many other factors like earthquakes and global economic uncertainty must be factored into the equation, thus these figures do not necessarily suggest the RWC has had zero impact.