sail-world.com
 
 
News Home Video Gallery Photo Gallery
Sail-World.com : Relaxing regulations could see more superyachts in Australia
Relaxing regulations could see more superyachts in Australia

'Relaxing the regulations could see more yachts like this in our bays'    .

Superyacht Australia has requested the Federal government to urgently review of the regulations affecting superyachts wishing to charter in Australian waters.

The current regulations are seen as a barrier to growing the superyacht industry in Australia and we are currently losing ground to other countries who have addressed this issue.


The submission estimates that we would see a doubling of the number of superyachts coming here and a subsequent doubling of revenue for the country and an increase of jobs for the sector if the current charter regulations are relaxed.

Australia is facing increased competition from other Asia Pacific countries who have understood the significant economic return the countries can get from this sector.

Fiji for example as a result of relaxing their charter regulations returned over $US3million from 5 charters in 2011.

The potential is huge and this drive to open up the superyacht charter market is supported by the governments 2020 strategy focused on attracting high yield tourists looking for those high end quality products.

The superyacht sector in Australia like many in the tourism sector is poised to take advantage of the significant growth in high net worth individuals coming from the emerging markets of Asia, China & India, looking for that unique experience.

The superyacht industry to a large extent has been unaffected by the global financial crisis returning 24 billion euro to the global economy in 2010. Australia only attracted a tiny percentage of this. The scope is enormous when you consider a superyacht spends 10% per annum of its value in maintaining the yacht. For example, a superyacht with a value of $50 million would spend a minimum $5 million on operational costs; maintenance, crew etc if it was cruising in Australia for 12 months.

MaryAnne Edwards, CEO of Superyacht Australia, the peak body for the superyacht industry said 'The potential for Australia is enormous, if we don’t act now to address the barriers to growth our competition particularly in Tahiti, Fiji and New Zealand will be firmly established, leaving us behind.

'The economic return to the country and the jobs it would create is significant. There is really no downside to this issue as the government is receiving no revenue from this charter sector currently as we are being bypassed for countries that make it easier for visiting superyachts to charter.'

The global superyacht fleet totals 4209 yachts, all over 30 metres. Relaxation of the charter regulations in Australia would have a huge flow on effect for those involved in superyacht refits, repairs and provisioning. A superyacht that comes to charter is far more likely to then undertake key refit work while in the country. This work is now going to our competitors.

Reports suggest that the global superyacht fleet is looking for new and exciting destinations and are tiring of the traditional cruising grounds of the Mediterranean and Caribbean.

Australia could be that new destination with the ability to service high end clients and provide the iconic and unique experiences being sought by superyacht owners.

With the new marketing campaign driven by Tourism Australia also focusing on these high end experiences the opportunities for this charter tourism sector to increase revenue for tourism and other key sectors is huge. Especially when you consider that for every $1 spent on Tourism there is a flow on effect of 91 cents to other parts of the economy.

Edwards said 'it is a huge step forward for us that the government is looking at this issue and has passed our submission down to Treasury and Customs for review. We see no downside for the government just positives in terms of job creation and significantly increased revenue from this sector. At a time when we are looking for export revenue, to create more jobs and look after regional areas across all states and boost tourism numbers, the response has to be positive.'

Superyacht Australia is doing considerable work to remove the barriers to growth within this sector. Other barriers include the 35 metre rule in the Great Barrier Reef, pilotage costs and the need for increased infrastructure.


by Sail-World Cruising

  

Click on the FB Like link to post this story to your FB wall

http://www.sail-world.com/index.cfm?nid=99114

10:29 PM Fri 29 Jun 2012GMT


Click here for printer friendly version
Click here to send us feedback or comments about this story.







News - USA and the World

HUD Vision: An interview with Afterguard Marine’s Alex Moret *Feature by David Schmidt, Sail-World USA Editor, Seattle




















America's Cup: Expected de Ridder penalty should be reduced *Feature by Richard Gladwell/Sail-World.com/nz, Auckland, NZ
















Congressional Cup - Victory for Taylor Canfield and crew by Rich Roberts (As Amended by ISAF),




2014 Halifax – Saint-Pierre Ocean Race by Patricia Nelder, Nova Scotia














Image Gallery: Stratis SL33 flies on the Waitemata by Richard Gladwell,Sail-world.com/nz,


Audi Melges 20- Sperry Topsider Charleston Race Week - Light final day by International Audi Melges 20 Class Association,










International Optimist Regatta Clinic and Team Race - Register now!
Congressional Cup: World top rankers finish that way in Long Beach
Sperry Top-Sider Charleston Race Week Day 3 finale
America's Cup: Gino Morrelli outlines the new AC62 design
Doyle Sails New Zealand signs Andrew Brown as One Design Manager
America's Cup: Dean Barker's Blog - A sail with the Duke and Duchess *Feature
29er World Youth Sailing Week Easter regatta - Day 1 and 2 overall
C Thomas Clagett Jr Memorial Clinic/Regatta - Entries start to roll in
50th Congressional Cup: See the delayed coverage and media conferences
Clipper Race 10 Day 27: Closing stages - Qingdao to San Francisco
Canfield, Williams, Bruni, Swinton in Congressional Cup final four
Sperry Top-Sider Charleston Race Week - Day 2
Audi Melges 20 Charleston Race Week - Perfect conditions in Charleston
Oyster Regatta Antigua - Full on ocean conditions for day 3
PWA World Tour - A taste of things to come at La Torche + Video
Women's International Match Racing Series kicks off in June
Melges 32 Audi Tron Sailing Series - Action shots by Max Ranchi
Clipper Round the World Yacht Race - Frustrating conditions
Man rescued after falling overboard in Pacific taken to hospital
Sperry Top-Sider Charleston Race Week 2014 - Youth leading Melges 20
Congressional Cup - Canfield leads toward Congressional Cup sailoffs   
Sperry Top-Sider Charleston Race Week 2014 - Perfection for Day 1   
America's Cup: Coutts claims ISAF Jury on a crusade, backs Kiwi report *Feature   
Clipper Round the World Yacht Race - Will light winds hamper progress?   
Les Voiles de St. Barth - Preparing to rock Saint Barthélemy waters   
Clipper Round the World Race - OneDLL and Qingdao now in San Francisco   
America's Cup: Emirates Team NZ up against funding hurdle for year *Feature   
Melges 32 Sailing Series Napoli - Day 1 images by Stefano Gattini   
50th Congressional Cup: View the Live racing here   
Melges 32 Sailing Series - Napoli action shots by Max Ranchi   
Volvo Ocean Race - Team Alvimedica launch new boat   
Emirates Team NZ: Royals duke it out on the Waitemata   
2014 Charleston Race Week - Thousands of sailors descend on Charleston   
The Congressional Cup 2014 - Williams hangs on with a classy crowd   
50th Congressional Cup: View the Live racing here   
RORC Transatlantic Race - Notice of Race now available   
Oyster Regatta Antigua - Sunshine and smiles on day 2   
Rolex China Sea Race on the horizon   
What can a boat name tell you about the person behind the helm?   
Clipper Round the World Yacht Race - Race 10 rumbles on   


For this week's complete news stories select    Last 7 Days
   Search All News
For last month's complete news stories select    Last 30 Days
   Archive News







Sail-World.com  


















Switch Default Region to:

Social Media

Asia

Australia

Canada

Europe

New Zealand

United Kingdom


http://www.sail-world.com/event_images/image/Twitter_logo_small.png http://www.sail-world.com/event_images/image/FaceBook-icon.png  http://www.sail-world.com/event_images/image/RSS-Icon.png

United States

Cruising Northern

Cruising Southern

MarineBusiness World

PowerBoat World

FishingBoating World

 

Contact

Commercial

News

Search

Contact Us

Advertisers Information

Submit news/events

Search Stories/Text

Feedback

Advertisers Directory

Newsletter Archive

Photo Gallery

 

Banner Advertising Details

Newsletter Subscribe

Video Gallery

Policies

 

 

 

Privacy Policy

 

 


Cookie Policy

 

 



This site and its contents are © Copyright TetraMedia and/or the original author, photographer etc. All Rights Reserved.  Photographs are copyright by law.  If you wish to use or buy a photograph contact the photographer directly.
XL NEW US