sail-world.com
 
 
News Home Cruising Photo Gallery Video 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



















2014 Pacific Cup - Scarlet Runner wins by Vanessa Yates, Hawaii
















































BIC Techno 293 Worlds 2014 - Day 4
PWA Fuerteventura Grand Slam on the horizon
Rolex Big Boat Series - Golden Jubilee to take place this September
DH Pacific Cup - Running with the pack + Video
Women's Match Race Golfe du Morbihan - Testing day in Vannes
Brewin Dolphin Commodores' Cup - Ireland establishes solid lead
International Moth Worlds: Outteridge charges into the lead + Video
Marina Rubicón Round Canary Islands Race - First blood to Team Brunel
ISAF Youth Match Racing Worlds - Competition heats up on day 2
Laser Radial World Championships - Competition aplenty on day 3 +Video
Extreme Sailing Series - Penultimate Act to take place in Nice
Leukemia Cup - Images by Leighton O'Connor
Maxi Yacht Rolex Cup - Meeting of the grand designs
29er North American Championship - Final series kicks off
29er World Championship 2014 set to start in Kingston, Ontario
Barcelona and Parnu chosen for 2015 ORC championship events
2014 Race for Rady Yacht Race - Benefiting Rady Children’s hospital
CMRC Summer Invitational Series - Doubleheader events start tomorrow
BIC Techno 293 Worlds 2014 - Day 3
Sailing through STEM Night at California YC
Six Metre European Championship - High temps and little wind on day 3   
Women’s Match Race Golfe du Morbihan - Light wind opener in Vannes   
International Moth Worlds: Rashley ahead as Aussies close in   
Brewin Dolphin Commodores' Cup - Unsatisfactory conditions on day 4   
ISAF Youth Match Racing Worlds - American unbeatable on day 1   
RS Feva World Championships - All set at Yacht Club de Carnac   
ISAF Rolex World Sailor of the Year Awards - Nominations now open   
BIC Techno 293 Worlds - Steady winds on day 2 + Video   
29er North American Open Championship - Qualifying series wraps up   
Opening ceremony O'pen Bic World Cup, Travemunde Week, Germany   
Six Metre Europeans - Wind fails to make an appearance on day 2   
Edgartown Race Weekend - Let the sailing (and good times) begin   
ISAF Youth Match Racing World Championship - Action commences July 23   
International Moth Worlds - Mothballed on day 4 + Video   
Brewin Dolphin Commodores' Cup - Ireland remains out front   
Spirits high as Team Alvimedica completes Transatlantic crossing   
Gladwell's Line: A change of direction needed in the America's Cup *Feature   
29er North American Championship - Day 1 in Kingston   
Red Bull 49erFX: First look at the Olympic sailing venue at Rio   
Fuerteventura Kiteboarding Grand Slam - Classic conditions on day 3   


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.
XLXL WAS US
LocalAds   DE  ES  FR  IT