Yachting Industry | Hamilton Marine

Yachting Industry

“Generally speaking, the yachting industry is innovative and efficient, does not cause problems in society, is quite self-regulated and provides quality employment and many benefits to the areas where it is located. It is also a fragile industry and knows that it depends on the world being a mostly safe and financially sound place.”

There are a small and dedicated number of national and international yachting associations, federations and organisations headed by talented and recognised professionals from within the industry who are trying to improve the perception of yachting to the general public, and more particularly to governments and international and regional institutions. They are slowly making headway and some milestone achievements and improvements have been made over the years. However, much is still to be done and the positive implications of yachting on local economies have still not been understood in many areas that could benefit from them!

What lies behind yachting, and may seem to some observers, and often the press, to be a frivolous and glamorous pastime enjoyed by a few privileged individuals, is in fact a buoyant and significant industry with great potential for many countries around the world which provides well remunerated, year round and mostly steady employment to many thousands of families.

Every new large yacht ordered will spread the wealth of its owner throughout the yachting community, locations visited and local economies over a long period of time. It will trigger extensive and far reaching work for numerous professionals during the construction process including exterior and interior designers, naval architects, engineers, lawyers and multiple industry experts in all manner of affairs. Skilled craftsmen from many trades will be required to complete the owners dream yacht, and building and outfitting materials and equipment will most likely be sourced from many different places around the planet, spreading wealth even further.

Once the yacht is nearing delivery and upon completion, crew will be employed and the refit and repair industry will become involved and will be actively engaged at many times during the life of the yacht. The owner’s and possible charterers use will also spread wealth throughout the cruising areas visited as local produce and services are requested and consumed. Marinas visited and most particularly those used as home ports, and their surrounding areas, will greatly benefit from the yacht’s presence. It is estimated that for every direct job in the yachting industry another seven are created indirectly supporting this industry.

Jonathan served nine years as vice-president of the Spanish Large Yacht Association (AEGY), several years as a member of the MYBA Tax and Law committee, and has been a member of several international and regional yachting associations for a very long time…