The Council of Ministers this morning approved the granting of a grant of 18 million euros to organize the Copa del América in Barcelona. The delivery of this amount, which was already included in the General State Budget, will be the responsibility of the Higher Sports Council and will go to the Fundació Barcelona Capital Nàutica AC24, the organizing entity of this sporting event.
With this aid, the aim is to achieve a greater boost to the sports development of Spain as well as a contribution to improving the image and reputation of the country, as stipulated in the Sports Law. In addition, the Higher Sports Council will also promote actions to promote tourism and the industry linked to the world of sport.
The authorization of this subsidy is also due to the interest generated by this competition in economic and employment terms. According to a study carried out by the Pompeu Fabra University, this edition of the America's Cup is expected to generate an impact of 1,200 million euros for Catalonia and the creation of around 19,000 jobs. In this sense, the Copa del América is the third sports competition that generates the most economic impact for the host country, only after the Olympic Games and the Soccer World Cup.
Barcelona was designated to host this championship in March 2022 and since then the city has been preparing. In addition, the teams have already begun to build their bases in Port Vell to be able to train starting this summer. The XXXVII America's Cup will be held between August and November 2024.
