Superyacht economic study

Superyacht economic study

AIMEX-Superyacht Australia is investing in an economic impact study into the value of the superyacht industry.

Superyacht Australia will fund an economic impact study into the superyacht industry in Australia in conjunction with support from two key Ministers in the Queensland Government, Treasurer Curtis Pitt and Minister for State Development, Dr Lynham.

CEO of Superyacht Australia MaryAnne Edwards announced confirmation of funding to enable the economic impact study to go ahead and said a tender process had been conducted with an industry panel identifying AEC Consulting Group as the preferred supplier.

Edwards said “Undertaking an economic analysis of Australia’s superyacht industry will provide the superyacht sector with a clearer understanding of their economic contribution to the Australian economy and identify the value-add directly attributable to the operation of superyachts across Australia and then looking at the individual states. We also want to understand the significant tourism value our industry contributes.”

“The study will also identify future economic opportunities provided by the growing global superyacht market and be a great tool to lobby both state and federal governments to institute policy and regulations to support these opportunities.”

“With the ability to offer safe and secure cruising in pristine uncrowded waters in a destination that has it all, Superyacht Australia is expecting significant increases in the number of superyachts wanting to cruise down under.”

Charter and private vessels have the potential to bring high yield tourism.

Australia has the capability and infrastructure to service the global superyacht fleet and has seen an increase in the number of enquiries agents and marinas are receiving.

CEO MaryAnne Edwards said “We would not be able to undertake this study without the support of the Queensland Government who we are hoping will use the study to reinstate their strategic plan for the Queensland superyacht sector.  With the Commonwealth Games coming up in 2018, Queensland and the Gold Coast in particular are preparing for an increase in the number of superyachts arriving on their doorstep both from overseas and from other states of Australia.”

Minister for State Development, Dr Lynham said “By supporting the growth and development of the superyacht industry we are aiming to give marine businesses around the Queensland coastline new contract opportunities to provide food and fuelling services, bunkering, maintenance, private jet services and crew pit stops.”

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