Great Britain might not be the most prolific of superyacht builders in the world but when it comes to design, supplying crew, finding specialist lawyers and professional yacht managers it is Great Britain that leads the way
Latest industry statistics from Superyacht UK show that when it comes to refit contracts the country is holding its own with repair yards accounting for 52% of revenues in 2014/15.
Superyacht UK, a division of British Marine, represents the interests of the UK superyacht industry both at home and abroad. The association has 250-plus members working in the design, build, supply chain or service provision sector for yachts over 24m in length.
In its annual survey for 2014/15 the trade association reports that refit revenue has grown by 10.2% year-on-year to £542m, and 48% of those companies surveyed reported an increase in profits.
The same study highlights a rise in demand leading to an increase in full time jobs. The sector now employs 4,000 full-time workers, an increase of 6.9% compared to last year.
62% of those surveyed reported a higher workload and a similar number have experienced a higher order book values.
74% of the industry is feeling positive about the next 12 months up a 69% feel good factor revealed in last year’s survey.
Agreeing that the UK’s marine industry is heading in right direction, Richard Selby, head of international development at British Marine said, “British brands are globally respected and we need to make sure that remains the case.”