Solent Could Be Big Economic Winner From America's Cup Move To Europe

9.00.00am UTC (GMT +0000) Mon 3rd Mar 2003

The Isle of Wight and other areas on the Solent could be key economic winners from the European victory in the America's Cup yacht race, according to MEP Chris Huhne, a former economist.

Mr Huhne wrote today to the Sports minister Mr Richard Caborn to ask him to support work that Cllr Shirley Smart, leader of the Isle of Wight council, is doing on a bid as a matter of urgency given the benefits for the Solent economy.

Mr Huhne said that the French port of Sete was already gearing up to bid for the competition with the backing of the French sports minister. Sete's mayor estimates that the contest has brought £210 million to the New Zealand economy. 'We must not be left behind' said Mr Huhne.

'I don't believe the benefits can be as big as this French estimate of £210 million, but hosting the America's cup would be an enormous shot in the arm for the local economies of Cowes and other towns around the Solent including Hamble, Lymington and Southampton.

'If we hosted the contest, it would create literally hundreds of new jobs around the Solent. It would benefit the yacht-builders and chandlers and marinas but also the hotel, restaurant and pub trade.

'The Solent has a clear advantage over any other European venue for the race because of our yachting tradition, but we can even offer the Geneva-based billionaire Ernesto Bertarelli a direct low cost air link from Southampton starting next month' said Mr Huhne. 'Mr Bertarelli could get his staff to and from Cowes more quickly than any other site in Europe - and for just £86 return.'

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