In mid-2011, at the American Superyacht Forum, the need for an economic impact report on the superyacht industry became apparent. The Superyacht Intelligence Agency, a division of The Superyacht Group, took this project on.
The intention was to clearly break down the economic contributions of the superyacht industry, examining employment figures, yacht expenditure and job distribution. This work was undertaken to show the individual contributions of the different parts of the industry, rather than producing just one total economic impact figure.
As well as undertaking our own extensive research, we worked with the industry and country associations to ensure accuracy through collaboration and data sharing. Whilst it is worth acknowledging that the same set of data used here could be approached and interpreted in different ways, the utilisation of all our resources has provided robust estimates of the superyacht industry's economic value.
This report also aims to be a tool for those looking to invest in the superyacht industry, providing a platform to understand the real value of each sector and potential revenues involved in each.
As building, selling and operating superyachts is a truly global business, this report also hopes to uncover the dynamics of each country and their dependency on certain sectors of the industry. This should help understand some of the issues that are currently affecting some nations, and also point the way to possible solutions for those issues.
Finally, we also hope to portray the superyacht industry as a generator of wealth and employment in the nations where businesses are based.