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Yachting is a gold mine for the whole of the South La Dolce Vita and the glamour of the Riviera, social inequalities and global warming, can
of France. According to a recent study on the created the first dry port here, as well as floating only make players in the sector think...For
economic impact of the sector, carried out by mooring pontoons – which should come as no specialists and market observers, the superyacht
Earthcase, yachting represents more than €1 surprise, since the Port Hercule is one of the industry is facing an existential crisis. Whether
billion and 10,000 jobs in the PACA Region. “The few deepwater ports on the Côte d’Azur. Its within Cluster Yachting Monaco or the annual
technical ecosystem generates €438 million for semi-floating breakwater can accommodate meeting of the yachting industry, the Economic
3,600 jobs and the tourism ecosystem represents cruise ships and yachts of significant size Symposium, La Belle Classe Superyachts,
€663 million and 6,600 jobs,” details the study and tonnage. With 800 berths, for 30 years professionals point out mooring problems in the
and it’s as simple as this: “The Mediterranean it has been home to the largest gathering of South of France linked to the new environmental
welcomes around 50% of the world fleet each superyachts in the world, the Monaco Yacht standards of international organisations, the
year,” (which has increased sixfold in 35 years), Show; but the infrastructure has been a victim shortage of crew, or even the targeting of yachts
ie half the 6,000 yachts of over 24 metres in the of its own success. The land extension at sea to by activists**…
world, which belong to people 12% of whom the west of the Principality in the 1970s did make One of the major issues is sustainability. Five
are from the European Union, 20% from North it possible to construct the port of Fontvieille million tons of CO² come from yachts, which
America, 20% from Eastern Europe, 20% from (300 berths) but it was still necessary to further represents 0.3% of CO² emissions in the maritime
the Far East and 10% from Asia and Australasia. increase the Principality’s berth capacity. This sector. “The ESG (Environment, Social and
The sector is obviously also a heavyweight in is why the Société d’Exploitation des Ports Governance) strategy drives commitment and
the Monégasque economy, if we are to believe de Monaco, which provides technical and action towards decarbonisation and it can help
the latest study, which dates from 2017. With commercial management for the ports, bought the superyacht industry meet the increasing
the help of Monaco’s statistics agency, IMSEE, and renovated the port of Ventimiglia, Cala del compliance demands of banks, insurers and
Cluster Yachting Monaco estimated an annual Forte, an investment of around €100 million. regulators and could become, more and more,
turnover of €750 million and a workforce of a license to operate. Even if the yachting
1,500. This competitiveness cluster aims to Many Challenges industry only makes a small impact on the
bring together all the professionals of the After a record year in 2021, the sector is surfing planet’s CO² emissions, these individuals have
Monégasque market and suggest reforms, on the buoyancy of the market. “The number of a big responsibility, particularly in terms of
with the ambition of making Monaco the world yachts under construction has increased by 7% image: they must be the initiators and leaders
capital of luxury yachting. “With more than 300 in 2023 and there are currently 648 yachts of over of technological progress and the habits of
companies operating in the yachting sector, the 30 metres under construction. Shipyards have full tomorrow, in order to raise awareness amongst
Principality is the world number three, after the order books and some have already sold yachts the general public and make the maritime world
United States and France, in the brokerage and for delivery in 2028. New yacht sales fell 29% in more ecologically-friendly,” declared Nicolas Mior,
management of yachts,” according to the cluster, 2022 compared to 2021; but 2022 was still the Manager at Jutheau Husson Yachting, during
which has set ambitious objectives for 2025: in second best year (after 2021) in the last 10 years, the symposium. Monaco now wants to play a
excess of €1 billion in turnover in Monaco, 1,800 with 221 new yacht sales,” said Merjn de Waard, role in this revolution and become the capital
jobs on land and €100 million in VAT receipts*. Founder of SuperYacht Times and a member of eco-responsible yachting (with the Monaco
“Monaco brings together yacht owners but also of the board of the Superyacht Life Foundation. Capital of Advanced Yachting initiative). “The
all professionals in the sector, from brokers to Some sales are dizzying: a Greek family has just sector is changing and the industry is facing
builders. More and more international groups bought from Italian groups, TISG and IYC, not one transformation and becoming less polluting.
are settling here,” observes Natalia Langsdale, but three new 70-metre superyachts! Today, we offer a platform offering solutions for
Cluster Yachting Monaco Project Manager. To get The fact remains that the uncertain international the yachting of tomorrow,” underlines Bernard
into yachting, the luxury real estate agency, John context, a cocktail of recession, soaring prices d’Alessandri, Secretary General of the YCM and
Taylor, has also chosen a Monaco-based office. for materials and energy, high interest rates, President of Cluster Yachting Monaco.

Deepwater Port
Historically, yachting in Monaco is a centuries-old
tradition that started with the first regattas in
1862, followed by motorboat meetings, where
the main manufacturers came to test their
new engines. After the dark days of the World
Wars, the creation of the Yacht Club (YCM) in
1953 by Rainier III revived both nautical events
and the development of the maritime industry
and the port of Monaco, which is home to the
largest yachts in the world. Carlo Riva, famous
for his legendary mahogany boats symbolising Racing motonautique, 1960

*The Cluster is due update these statistics and projections. As part of the Masters in Yachting at the University of Monaco, three market studies will be carried out by the end of the year, in particular on the aspirations
of new generations of yacht owners. **The Yacht CO ² Tracker collective has in its sights the yachts of Bernard Arnault (one of the largest in the world, over 100 metres) Martin Bouygues and Vincent Bolloré...

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