Pleasure boating is a strategic sector for Italy, with an overall impact of approximately 27.7 billion euros, and 157,000 jobs, also affecting the tourist and Made in Italy sectors by 2.7 times and occupationally by 6 times. These are the results from the study published by Altagamma-Deloitte, “Pleasure Boating in Italy”, presented on Tuesday 25 June by Giovanna Vitelli, President of the Azimut|Benetti Group and Vice-President of Altagamma for the boating sector, and by Tommaso Nastasi, Senior Partner for Deloitte.

This study looks at the economic and occupational impact of boating in our country, a global leader in manufacturing yachts over 24 metres, taking into consideration both building and tourism. This study takes into consideration business upstream from delivery of the vessel, including building new units, refitting and extraordinary maintenance, as well as downstream business generated from residential or seasonal stays along the coast.

“The analysis – notes Vitelli – demonstrates not only the relevance of the Italian nautical industry, but also the unexpressed potential of a sector with a considerable growth margin. Although Italy is a world leader in the construction of superyachts, only 6% fly an Italian flag. This inhibits the beneficial impact that superyachts can generate locally. For this reason we need to work on making Italian registration more attractive, for charters along our coast, assimilating the VAT from the hotels and marinas, which are the destinations for boating tourism.”

HIGH END BOATING

High end boating, meaning the yachting segment over 18 metres, has the most relevant effect on the country, representing 65% of the total economic impact, with 80% of that value upstream (construction). In addition, although only around 2% of that fleet visits Italy, it generates 55% of the downstream values (from vessel use).

This is therefore a very important economic and occupational contribution for our country, capturing the interest of a global niche of “high spending consumers”, whose spending contributes to a high socio-economic contribution that could become even more important. For example, a large yacht registered in Italy, with an Italian crew, cruising along the Italian coast for at least 10 weeks a year, can generate an overall general contribution of around 1.6 million/vessel.

This data clearly demonstrates that, by promoting the entire production chain, Italian pleasure boating has a number of opportunities for growth, and there are all the conditions to make it so that the rank of top builder of yachts and superyachts extends to the services and boating tourism sectors, increasing both national and international demand.

This is why, to increase spin-off activities from boating tourism, it is important that there be changes to certain provisions, making Italian registration more attractive, as well as further investments in port infrastructure and connected services, increasing technical and management skills while developing innovative and sustainable platforms.

PRIORITIES ACCORDING TO ALTAGAMMA

According to preliminary considerations by the Altagamma foundation, priorities for improving the sector in Italy are to assimilate (in terms of VAT) rentals and charters following the parameters of the hotel-tourist industry, adjust procedures and provisions for Italian registration to those of other International Registers to make it more attractive, and simplify bureaucratic procedures, like for example, background checks or registration of pleasure boats.