Bermuda’s economy could benefit by as much as $300 million as a result of being awarded the 2017 Americas Cup.
That was the view of economist Peter Everson who described the event as being the biggest "since the airport opened for civilian flights."
Tourism officials expect a big boost in visitor arrivals and hotel occupancy leading up to and during the competition.
"It’s difficult to talk about exact numbers at the moment, but I’d estimate we’ll see a minimum 10% increase in arrivals from 2014 to 2017," David Dodwell, chairman of the Bermuda Tourism Authority, said.
British territory Bermuda got the nod ahead of San Diego as host with Premier Michael Dunkley calling for an island-wide celebration to mark the successful bid.
"This is an opportunity for all of Bermuda to come out and celebrate this monumental achievement, and is a time for us to come together in a spirit of unity to bask in our collective success," Dunkley said.
Defending champions Oracle Team USA will face off in Bermuda against the winner of a challenge round between teams from the UK, France, New Zealand, Italy and Sweden.
