Australia to study impact of yachts

Superyacht Australia, with support from two of Queensland government’s key ministers, will pay for an economic impact study into the superyacht industry in Australia.

“We want to understand the significant tourism value our industry contributes,” said organization CEO MaryAnne Edwards. “The study will also identify future economic opportunities provided by the growing global superyacht market and be a great tool to lobby both state and federal governments to institute policy and regulations to support these opportunities.”

As Australia will host the Commonwealth Games in 2018, the Gold Coast is preparing for an increase in the number of visiting superyachts.

“By supporting the growth and development of the superyacht industry, we aim to give marine businesses around the Queensland coastline new contract opportunities to provide food and fueling services, bunkering, maintenance, private jet services and crew pit stops,” said Minister for State Development Anthony Lynham.

Queensland Treasurer Curtis Pitt backs Superyacht Australia’s efforts to pass legislation to allow foreign-flagged superyachts to charter in Australia.