The first Altagamma-Deloitte study of the sector’s economic and employment impact - presented on June 26th in Milan - showed that the Italian nautical industry grew 3 times faster than the country’s GDP between 2012 and 2022. Its overall impact is 2.7 times its direct economic impact and 6 times its employment impact. An unexpressed potential: just 6% of superyachts(> 24 m) visiting Italy fly the Italian flag.
THE ITALIAN NAUTICAL INDUSTRY
Yachting is a strategic mainstay for Italy, with an overall impact of some €27.7 billion and 157,000 employees, drawing on the complementary chains of tourism and Made in Italy with a total economic multiplier effect of almost 2.7 and an implicit employment multiplier effect of 6.
These figures indicate the need to open a debate about the main growth opportunities for the sector and its entire value chain, with a particular focus on the development of activities connected to the use of yachts, which currently account for over half the total value.
One of the main opportunities for the expansion of satellite activities linked to yachting is therefore the development of marinas. The fact is that just 30% of the berths available in Italy are in marinas equipped to receive yachts and superyachts and offering appropriate technical and tourism facilities to cater for this market.
THE HIGH-END NAUTICAL SECTOR
The high-end nautical sector - i.e. yachts longer than 18 metres - is the segment that displays the greatest impact on the ground:
_ It constitutes 65% of the total economic impact, with 80% of its value in shipbuilding (upstream). Furthermore, although this segment accounts for just 2% of the yachts visiting Italy, it generates 55% of the downstream value, i.e. that deriving from the use of yachts.
_ Spending on the ground (downstream) activated by large yachts is on average 26 times greater than the average across the nautical sector.
_ This is therefore a major economic and employment contributor for Italy, which can tap into the interest of a global niche market of ’high-spending’ consumers whose input translates into high social and economic value, potentially greater still if we consider that just 6.5% of these superyachts sail under an Italian flag.
More details in the press release.
