More good news for the superyacht industry, and the Luxury Yacht Charter market this time specifically in the UK, following on from September’s successful Monaco Yacht Show.
And now figures coming out of the UK seem to confirm this rosy image of the yachting industry, revealing that the sector is indeed gaining momentum, with further growth expected next year.
Superyacht UK, which represents more than 210 members from a wide range of yachting disciplines from naval architects to manufacturers, revealed that revenues rose 3.9 per cent in 2013-2013 to £442 million or €517 million. This is a stark contrast to figures for the previous year, when members reported a 2.2 per cent contraction.
In addition, profits rose for 40 per cent of the companies that were surveyed for the report, compared to just 32 per cent the previous year. Meanwhile, a healthy 81 per cent of companies had seen a higher or similar workload. This figure was up 8 per cent on last year’s figures.
Luxury Yacht Charter can also report further good news, 43 per cent of companies reported an increase in orders this year while seven out of 10 businesses said their future prospects were “good” or “excellent”, compared with only five out of 10 last year.
Following the publication of the report, Albert Levy, chairman of Superyacht UK, said: “The resilience and broad base of the superyacht sector in the UK shows through in these very encouraging statistics, with turnover, and more importantly profit, rising.“Those who have committed resources during the downturn will reap the rewards.”