New facilities proving popular - NZ Marine reports $212m superyacht economic boost
by Isla McKechnie 11 Oct 2024 03:31 PDT
11 October 2024
Events like the NZ Millennium Cup regatta have aided in drawing superyachts to New Zealand shores © Jeff Brown
A new report shows superyacht visitors injected $212m into the New Zealand economy in the 2023/4 season. The report has been released as New Zealand ramps up its superyacht attraction initiatives.
Commissioned by NZ Marine and conducted by Market Economics Limited, the report highlights the vital role superyachts play in contributing to New Zealand’s marine and tourism industries.
The report’s release comes as the NZ Marine Industry Association debuts its 2025/6 guidebook in Barcelona; Destination and Cruising New Zealand.
A total of 56 superyachts were recorded in New Zealand during the 2023/2024 season, each spending an average of $3.8 million across a range of services. Approximately 90 per cent of this expenditure, or $190 million, was directly within the marine industry on maintenance, refit, and berthage, and the remaining $22 million was on living expenses and tourism throughout NZ by the crew and owners, to the benefit of the broader NZ economy.
The report also identifies ongoing opportunities for market growth; particularly in the superyacht charter market, with tailor made itineraries further strengthening New Zealand’s position as a global leader in marine services and highend tourism.
NZ Marine has focused on attracting superyachts to cruise within the country, with six editions of Destination and Cruising New Zealand released since 2014. The organisation, which represents the New Zealand marine industry, has also represented New Zealand as a cruising and service destination around the world, ensuring New Zealand takes its place on the world superyacht stage in Barcelona, Monaco, Fort Lauderdale, Singapore, the Netherlands and more.
“The superyacht refit business is a big part of New Zealand’s $3billion marine industry and has huge growth potential, as the 56 superyachts visiting represent a fraction of the world’s superyacht fleet,” says NZ Marine executive director, Peter Busfield.
“With more than 1,300 marine businesses and over 500 apprentices through the Marine & Specialised Technology Training Academy (MAST), the marine industry continues to be a major manufacturing sector in New Zealand and through ongoing innovation and training has further potential to grow,” says Busfield from Barcelona, where an NZ Marine team including the executive director and Stacey Cook, NZ Marine Events and Export Group manager, is launching the 2025/6 Destination and Cruising New Zealand guide to attract further superyachts to the country.
This latest Market Economics report reinforces the importance of the marine maintenance and refit sector in sustaining high value jobs and apprenticeships across the country. Added to this is New Zealand’s design and build capability with five new superyachts in construction during 2024 in the country, and a promising forward order book.
Destination and Cruising New Zealand released in Barcelona
Significant investments in superyacht facilities in Northland, Auckland and the Bay of Plenty have expanded New Zealand’s capacity to accommodate superyachts for refit, maintenance and berthage.
Infrastructure is now in place to handle a 50 per cent increase on the existing number of superyacht arrivals, with the subsequent ability to expand the economic impact of visiting superyachts.
This infrastructure growth has been designed to meet the needs of world cruising superyachts; many of which are now moving out of the Mediterranean and Caribbean in order to explore throughout the South Pacific.
New Zealand's appeal extends beyond its marine industry, with superyacht visitors also drawn by the opportunity to explore the country’s 15,000 kilometres of coastline. A coastline which is detailed in the 2025/6 Destination and Cruising New Zealand guide being released this week in Barcelona in order to further attract these lucrative visitors to Kiwi shores.
Superyachts are permitted to stay in New Zealand for up to 24 months, with many choosing to take advantage of the high tech marine services available, zero rated GST on refit services, and the country’s world class marinas and shipyards.
As part of its broader strategy, NZ Marine, in collaboration with other South Pacific countries, continues to promote the wider region to superyachts, highlighting the beautiful cruising grounds and the infrastructure, berths, and professional services available in New Zealand.
Destination and Cruising New Zealand can be accessed here:
www.nzmarine.com/wp-content/uploads/sites/10/2024/10/DCNZ-2025-26-updated-Oct-2024.pdf