29 Jan 2011

Rugby World Cup tipped to boost NZ economy by $700m

9:52 am on 29 January 2011

The Reserve Bank is predicting the Rugby World Cup will add $700 million to the economy and a win by the All Blacks would boost confidence in consumer spending.

Governor Alan Bollard said in a speech on Friday that it is quite hard to predict the effects of big sports events on the economy.

But he said the World Cup will be large enough to have a significant impact, increasing GDP by 0.3%.