Genova for Yachting: a new professional yachting cluster has arisen

Today a new cluster was presented, grouping together 27 companies in Genoa, all active at an international level in the sector of yachting: with 680 direct employees, €110 million combined annual turnover, 360 thousand working square metres and a spin-off turnover of allied industries worth more than €300 million per year.

The objective is to work together and dialogue with the institutions in order to make professional yachting a strategic vocation for the Genoa of the future, together with the port, Hi-tech, culture and tourism.

Today in Genoa at the Palazzo San Giorgio headquarters of the Port Authority System of the Western Ligurian Sea, Genova for Yachting was presented, a new cluster of Genoese Professional Yachting companies that groups together 27 businesses in the Services, Marinas, Shipyards and Technology sectors, an expression of Italian know-how in an extremely competitive international sector.

€110 million of combined annual turnover, 360 thousand square metres of working space occupied in the port, 680 direct employees, more than 1000 suppliers in Genoa and from all over Italy, strongly inclined to export with spin-off industries that generate more than €300 million of turnover every year: these are the figures that represent the group that has decided to join together with the objective of making Yachting a strategic vocation of the Genoa of the future, together with the port, Hi-tech, culture and tourism.

“Since the 1990s, Genoa has acquired an ever more central role at an international level in the super and megayacht services market, thanks to its commitment, professionalism and competitiveness, also thanks to the work of the numerous operators who believed in this sector’s development. This has been the driving force that has brought us together, creating a spontaneous group that can be recognised as a Professional Yachting cluster, so as to actively contribute to the development of the economy of our city and indeed of all the territory, representing a strategic opportunity for Genoa.” – commented Giuseppe Pappalardo, CEO of Marina Genova Aeroporto Srl.

“The direct economic data and the values that Genova for Yachting expresses today have registered a marked increase over the last 3 years, proof that our city has what it takes to be competitive with other Mediterranean yachting hubs, the latter the result of precise development politics based on the collaboration and integration between the public and private sectors.” – added Nicolò De Angelis, Research & Development Genoa Sea Service Srl – “We are convinced that teaming up together is certainly the best way forward to further this growth.”

The world superyacht market today consists of a fleet of more than 5,000 vessels over 30m long that will grow to be more than 6,200 by 2023. Such a fleet generates a direct annual Opex estimated in 6 billion euro with a significant impact both on the territories visited and on ports used as a base (Source: The Superyacht Report). The Mediterranean Sea is certainly the preferred destination of the fleet: during the summer season for charters and tourism and in winter for maintenance and refitting activity. More than half of the fleet (56%), in fact, remains stably in the Med over the winter.