Double-digit growth in the Italian boating industry
On the occasion of the opening of the Genoa Boat Show, UCINA, the association of Italian boating professionals, presented the figures for the sector for the year 2017. For the third consecutive year, the transalpine yachting sector saw its turnover increase. It grew by 12.8% to 3.88 billion euros. The construction of new boats represents the largest share with 58% of the total, followed by equipment at 28%, engines for 8% and refit and maintenance for only 6%. Growth reached 29.2% for the pleasure craft production sector alone.
Employment in the Italian nautical sector is also on the rise. The number of employees rose by 6.1% to 19,600.
Recovery of the domestic yachting market
Exports account for 65.5% of Italian boating sales, with the domestic market accounting for the remaining 34.5%. Carla Demaria, president of UCINA and director of Monte Carlo Yachts, underlines the good health of the Italian market. "While exports remain stable at an exceptional level, the domestic market continues to grow (+15.4%), thanks to greater consumer confidence and the acceleration of boat leasing, which recorded a 58% increase in revenue related to these contracts in 2017
The superyacht king of Italian export
The spearheads of the Italian nautical industry, luxury yachting and luxury boasts very good results. Superyacht exports over 24 metres increased by 83.4% between 2010 and 2017, driven by a booming market.