16 Sep 2013

Marine industry hopes for Cup win boost

12:52 pm on 16 September 2013

The New Zealand marine industry has set a goal of doubling its exports if Emirates Team New Zealand wins the America's cup.

Emirates Team NZ.

Emirates Team NZ. Photo: RNZ / Todd Niall

After day 10 of racing on Monday, Team NZ leads the series 7-1 and needs only two more wins to lift the trophy.

The Marine Industry Association says it has set set an ambitious goal of increasing export earnings from $650 million per year, to $1.3 billion over the next seven years, if Team New Zealand win the Cup.

Chief executive Peter Busfield said the superyacht sector has been hit particularly hard by the strong New Zealand dollar and global downturn in recent years, and it hopes to profit from the free marketing a win would generate.