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

CEO of Superyacht Australia M 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.” 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 M 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 fueling services, bunkering, maintenance, private jet services and crew pit stops”.

“We know superyacht charters are popular around Papua New Guinea and Indonesia at the moment and Queensland’s proximity to these hotspots makes our state a logical port of call. Cairns continues to be the major port of entry for superyachts and has all the infrastructure and supply chain to service these vessels at the highest level”. “I’m keen to see them continue their Queensland journey down our spectacular coastline along the reef through the Whitsundays and other islands all the way down to the Gold Coast.”

The Queensland Treasurer Curtis Pitt is also backing the Superyacht Australia plea to the Federal Government to introduce legislation to allow foreign flagged superyachts to charter in Australia.
The Treasurer stated “Changes to the charter regulations will open the doors to growing the industry and the biggest impact of this would be regional Queensland.”

The Superyacht sector in Australia continues to go from strength to strength with considerable private investment in marinas and refit facilities along the east coast.

Edwards also stated that Superyacht Australia had a strategic marketing planning day coming up in Sydney with Tourism Australia’s top marketing experts. It is important that Superyacht Australia align their marketing with Tourism Australia and are looking forward to their guidance in future marketing strategies.

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