Superyacht visitors injected $212m into New Zealand’s economy in the 2023/24 season, according to a report commissioned by NZ Marine.
The report was carried out by Market Economics Ltd and is released as New Zealand prepares to increase its superyacht attraction initiatives.
The report highlights the role superyachts play in contributing to New Zealand’s marine and tourism industries, with 56 superyachts recorded as visiting the country during the 2023/2024 season.
Each spent an average of $3.8 million across a range of services with approximately 90% per cent of the expenditure – $190 million – spent within the marine industry on maintenance, refit, and berthage.
The report also found there are ongoing opportunities for market growth; especially relating to superyacht charter.
The superyacht refit business is a big part of New Zealand’s $3billion marine industry.
Peter Busfield
“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,” explained NZ Marine executive director, Peter Busfield.
“With more than 1,300 marine business 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.”
The report highlights the importance of marine maintenance and refit companies and also points to the country’s design and build capability with five new superyachts currently being built.
There has also been investment in superyacht facilities in Northland, Auckland and the Bay of Plenty to expand New Zealand’s capacity to accommodate superyachts for refit, maintenance and also berthage.
The country now has infrastructure in place to be able to accommodate a 50% increase on the existing number of superyacht arrivals, designed to meet the needs of cruising superyachts which are moving out of the Mediterranean and Caribbean to explore the South Pacific.
Superyachts are allowed to stay in New Zealand for up to 24 months.
