Major event partners and restaurants yesterday hailed the America’s Cup as a major boost for business.

Insurance firm BF&M is the official health insurance provider for the America’s Cup for Oracle Team USA and the ACEA.

John Wight, BF&M’s chief executive officer, said the sponsorship decision was taken to boost business for the firm and support Bermuda.

He added: “Since that decision many months ago, the other racing teams and families that have since moved to Bermuda have also started to insure with BF&M.”

And Mr Wight said the opportunities had just begun, as the World Series was a taster for the big event in 2017.

He added the finals “will be without question the biggest event that Bermuda has ever hosted and may ever host”.

Mr Wight said: “This is a huge opportunity for Bermuda to relaunch its tourism industry and from the announcement in late 2014 that Bermuda had been selected, we at BF&M felt that there would be great benefits not just for BF&M but for virtually every sector of the community.”

And he said the challenge would be to translate success in 2017 into “a sustainable and improved economy” when the races are over.

The revamped Hamilton Princess and Beach Club is the official America’s Cup hotel.

Hotel general manager Allan Federer said: “The event provided additional international exposure for the hotel and for Bermuda and our October numbers are much improved as a result.

“We believe AC35 will put Bermuda back on the map and encourage more travellers to consider Bermuda when selecting their vacation destination.

“From a business perspective, we certainly saw our first sign of green shoots this weekend.”

And he added that he hoped Cup organisers would consider the Island for further races next year.

Professional services firm PwC, the official audit and assurance company to the event and Oracle Team USA, said the glamour of the event rubbed on sponsors.

PwC Bermuda leader Arthur Wightman added: “PwC Bermuda is extremely proud to be part of this exciting event for Bermuda. Clearly, the weekend’s Louis Vuitton America’s Cup World Series was a huge success for Bermuda.

“It was not just a spectacular sporting event, but it also showcased the Island on a global stage and delivered wide-ranging economic benefit to Bermuda.”

And Mr Wightman said: “At PwC, we are delighted to have connected our brand with an event that shares PwC’s core values of excellence, teamwork and leadership.

“This was certainly an excellent event and provided us and our clients with unique hospitality and thrilling viewing opportunities on the water for which we are all extremely grateful.

“There is intrinsic value to our brand through the fantastic coverage, positive press and global recognition.”

He added that PwC was also a direct supporter of the event’s youth sailing programme Endeavour, which featured prominently over the weekend.

Mr Wightman said: “We are unreservedly committed to playing our part in ensuring that there is a real legacy benefit from the 35th America’s Cup that will be felt by the Bermuda community for many years to come.”

But is not only official sponsors that are seeing the benefits flow from the Cup.

Philip Barnett, head of restaurant group IRG, who also represents his sector on the Bermuda Chamber of Commerce, said his staff had worked flat out, with many working double shifts to cater to the demand.

He added: “From the various teams using us all year long for their meal provisioning through our various restaurants and catering arm, to their visiting friends and relatives coming into Bermuda and spending money in our establishments, to the big weekend just passed, it has been better than expected.

“I have also anecdotally talked to other restaurateurs and business owners and they too are generally telling similar stories.”

And he added that businesses from supermarkets to pharmacies had also recorded an America’s Cup spike in sales as crews and support staff spend cash.

Mr Barnett said: “The best part is, as we get busier, we have to reach out to all our on Island support companies and re-spend the income back on the island to purchase goods and services to support the increased demand we are getting.

“From wholesalers, to printers, to car-selling automotive dealers it is a wonderful virtuous cycle of dollars flowing in and around the Island for the benefit of many.”