A new global study has revealed the scale of the superyacht sector’s economic contribution and placed yacht builders at the centre of its long-term success.
Research by Deloitte and Vrije Universiteit Amsterdam found that the global superyacht industry generated around €54 billion in total economic output based on 2022 data.
The study, Global Economic Impact of the Superyacht Industry, was commissioned by Superyacht Life Foundation and SYBAss the Superyacht Builders Association.
According to the findings, the sector now ranks among the world’s most significant high-value maritime manufacturing ecosystems.
Builders Launch Advocacy Campaign
The report supports the launch of SYBAss’ new Builders Advocacy Campaign.
The initiative aims to raise awareness of the role yacht builders play across the wider marine economy. It also highlights how builders sustain skilled employment, encourage industrial innovation and support long-term growth in coastal regions.
Researchers found the industry generated €22 billion in direct expenditure. That activity then produced a further €32 billion through supply chains, tourism, operations, hospitality and marine services.
The figures underline the strong multiplier effect created by superyacht construction and operation.
Greatest Economic Impact
The study identifies yacht construction as the industry’s most economically powerful activity.
Researchers calculated that new-build projects generate a multiplier effect of 2.8. In practical terms, every €1 invested in yacht construction creates an additional €1.80 across the wider economy.
That value spreads across suppliers, subcontractors, engineering firms, logistics providers and long-term yacht operations.
Although charter, brokerage, marinas and hospitality generate substantial annual revenue, the report states that these sectors depend on continuous fleet renewal.
Without new yacht construction, the wider operational economy would not exist.
New vessel construction alone accounts for 37% of total industry impact, representing around €20 billion globally.
Meanwhile, refit and maintenance contribute an additional €5.6 billion and represent around 11% of the sector’s total economic value.
The report identifies refit as one of the industry’s strongest future growth areas as the global fleet matures.
Industry’s Industrial Core
The study also examined the upstream industrial sector, including new-build and refit activity.
Together, those activities generate approximately €9.5 billion in direct economic impact.
Within that figure:
- New build contributes €7.2 billion
- Refit contributes €2.3 billion
Researchers describe yacht construction as a specialised manufacturing sector that combines advanced engineering, project management and skilled craftsmanship.
Despite the luxury image often associated with superyachts, construction remains a highly technical industrial process.
Each yacht requires coordinated work from engineers, electricians, welders, naval architects, carpenters, painters and specialist suppliers.
Many workers develop these skills through apprenticeships and long-term technical training.
Responsibility Beyond Delivery
The report also highlighted the sector’s long-term economic resilience.
With the global fleet approaching 5,600 vessels, superyachts continue generating economic activity long after delivery.
That ongoing contribution includes:
- Refit and maintenance
- Crew employment
- Marina services
- Fuel supply
- Tourism and destination spending
Researchers estimate that a single superyacht contributes an average of €9 million annually throughout its operating life.
The report also notes that builders carry significant responsibility across each yacht’s lifecycle.
While designers, suppliers and contractors contribute to every project, the shipyard remains accountable for the final product and its long-term reputation.
Strengthening Recognition
SYBAss says its Builders Advocacy Campaign will continue publishing research, insights and industry analysis over the coming months.
The organisation aims to strengthen understanding of yacht builders’ industrial, economic and social contribution.
Founded in 2007, SYBAss represents leading global superyacht builders and promotes collaboration, innovation and higher construction standards across the sector.