Please select your home edition
Edition
RS Sailing 2021 - LEADERBOARD

Visiting superyachts contribute over $100M to the Australian economy in 2020

by AIMEX 18 May 2021 21:52 PDT
Keri Lee III 55m (left) and Pangea (right) - Foreign flagged vessels now in Australia © AIMEX

Data released today at the Australian Superyacht, Marine Export and Commercial Industry Conference (ASMEX) by Superyacht Australia, the peak body for the superyacht industry, shows that foreign flagged superyachts stayed an average of 128 days in 2020 compared to an average of 73 days in 2019 representing a 75% increase in the length of stay.

The economic impact of this was just over $100M and represents a 58% increase on 2019's already impressive economic impact of $63M.

The passage of the Special Recreational Vessel Act in December 2019 by the Federal Government now allows foreign flagged superyachts to charter in Australian waters. As a result, Australia saw its first charter client in December, with Hollywood actor Will Smith chartering a superyacht out of Cairns. With the passage of these laws it is expected that Australia will see a further 300% increase of visitation over the coming three years.

In 2020, Queensland saw the highest number of visiting vessels along with the longest duration of stay generating an 84% increase compared to the previous year.

"The Queensland state government has supported the industry through their Superyacht Development Strategy. The state government established a fund that helped Queensland businesses attend overseas events and for shipyards to meet international compliance standards required for this high level of work. This type of government support has certainly paid off in visitation and encouraged significant private investment in the refit and maintenance industry in Queensland, which in turn means substantial jobs for marine trades." stated David Good CEO of Superyacht Australia.

After Queensland, the highest visitation was seen was in NSW, followed by Western Australia and Victoria. The Northern Territory had the largest size visiting vessel, with a length of 107 metres M/Y Andromeda.

Superyacht Australia, who has been working in partnership with Tourism Australia, has actively promoted Australia to showcase the signature experiences that Australia can offer visiting superyachts.

"With an estimated tripling in visiting foreign flagged vessels visiting our waters, 11,800 jobs will be created for Australians in servicing these vessels." added Good.

Related Articles

Marine Auctions: Special July Online Auction
The bidding will end on Tuesday 22 July at 2pm AEST The alternative way of selling any type of vessel or marine asset with proven and successful results. Posted today at 4:03 am
Teledyne acquires Maretron
Leader in vessel monitoring and control solutions joins Teledyne's Raymarine brand. Teledyne Technologies Incorporated (NYSE:TDY) ("Teledyne") has announced the acquisition of assets of Maretron, including the brand's Octoplex, MPower and MConnect product lines from Littelfuse, Inc. (NASDAQ:LFUS). Posted today at 3:40 am
July 2025 high tide flooding predictions
Predicted to be a relatively quiet month on the Atlantic and Gulf coasts July is predicted to be a relatively quiet month on the Atlantic and Gulf coasts from a flooding perspective, with no locations forecast to have flooding. Posted on 1 Jul
Newport International Boat Show partner announceme
New England's Premier Boat Show to take place September 11-14, 2025 The Newport International Boat Show has announced its partnership with local and national organizations to sponsor this year's Newport International Boat Show presented by BankNewport. Posted on 1 Jul
Avikus and Emerson sign MOU
To integrate Adaptive AI and Autonomous Technologies Avikus, HD Hyundai's specialized Autonomous Navigation Technology subsidiary, has announced that it has signed a MOU with Emerson to integrate its NEUBOAT CONTROL Autonomous System with Emerson's Aventics marine controllers. Posted on 1 Jul
NMMA supports industry letter
Urging commerce to revise Section 232 implementation process The letter emphasizes the need for a more transparent and targeted approach to avoid unintended harm to U.S. manufacturing Posted on 30 Jun
Excess launched the 100th hull of the Excess 14
Behind this hull #100 are more than 70 passionate staff who have put their expertise to work A symbolic milestone for a model that embodies our vision of the catamaran: sharp design, easily gliding through the water, and pleasure at the helm. Posted on 30 Jun
2025 USVI Charter Yacht Show set for November
A rising tide of opportunities for boat crews and brokers A rising tide of opportunities for boat crews and brokers to connect, from one-on-one meet-and-greets to USVI-style social events, is what makes the 2025 USVI Charter Yacht Show a 'must-attend' industry event. Posted on 28 Jun
NMMA Canada hosts successful 2025 Day on the Hill
Building momentum for repeal of luxury tax NMMA Canada wrapped another highly successful Day on the Hill in Ottawa this month, bringing together industry leaders, government officials, and policymakers to advance priorities critical to Canada's recreational boating sector. Posted on 26 Jun
NTG Global Graduate Program
Shape your career and propel yourself into the world of innovation North Technology Group, a global leader in advanced composite technology, is offering an exciting and dynamic graduate program that will shape your career and propel you into the world of innovation. Posted on 26 Jun
Maritimo M75Selden 2020 - FOOTERAllen Dynamic 40 Footer