The Government says the America's Cup last year contributed more than $100 million to the New Zealand economy.
Two reports released on Friday assessed the event's success in terms of factors such as trade deals and promotion of New Zealand.
One, by independent consultants Market Economics Limited, evaluated the Government's investment in Team New Zealand. The other assessed Trade and Enterprise's leverage programme in San Francisco, which aimed to promote New Zealand during the Cup.
Economic Development Minister Steven Joyce said the total economic value to New Zealand, combining the contribution from Team New Zealand and Luna Rossa, was $106 million.
Team New Zealand needed to source $2 million for every $1 million the Government gave them, and Mr Joyce said it exceeded that target, securing more than $3.5 million for every $1 million.
The reports show the Cup contributed to business deals worth more than $200 million and a further $120 million of new sales.
Mr Joyce said there was also significant media coverage promoting New Zealand, with a reach of about 86 million viewers.
A decision on any further government investment in the America's Cup will be made after Team New Zealand present a business case.