UK Superyacht Industry Enjoying Seven-Year High
A new survey carried out by Superyacht UK shows that the British superyacht sector is at a seven-year high.
The survey showed that 69% of participants described their outlook for the industry over the next 12 months to be either “good” or “excellent”. This collective optimism is the best response to the survey since the recession hit. The positivity from industry insiders is reflected by the 7.1% industry growth on last year, raising the estimated value of the British superyacht industry to £492 million.
It appears as though new builds are driving this surge in industry revenue, with 57% of superyacht revenues being taken from new orders. 59% of respondents also reported a busier workload in the past year, which has translated into 30% of companies hiring new staff, around 3,700 new jobs being created and the British superyacht workforce expanding by 4.1% over the last year.
With the Monaco Yacht Show, world’s biggest annual yacht trade show drawing to an end this weekend, the industry heads into the final quarter of the year on a high. However, some are worried that the possibility of sanctions being imposed on Russia could affect the healthy demand in superyachts from Russian buyers.
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