News Home FishingBoating Photo Gallery Australian Cruising Sail-World Australia : Economic benefits set to flow to NZ from luxury yacht regatta
Economic benefits set to flow to NZ from luxury yacht regatta

'Silvertip - current Champion.'    . ©    Click Here to view large photo

When a fleet of luxury superyachts sail into Auckland next February they are likely to bring with them a hefty economic boost for both the New Zealand marine industry and the city as a whole.

The palatial superyachts, all at least 30 metres long, will be here for the 2013 NZ Millennium Cup, to be sailed on the waters of the Waitemata Harbour and Hauraki Gulf. They will moor in the Viaduct Harbour in downtown Auckland, their owners and guests enjoying the nearby restaurants, bars and shops. Their captains and crew will also take advantage of our world-class marine industry, ensuring their sophisticated vessels are maintained to the very highest of standards.

And, as international research shows, while here, the fleet will make a very significant contribution to our economy.

Earlier this year, the Superyacht Intelligence Agency produced a detailed, economic impact report on superyacht expenditure. It showed that the average superyacht spend is around $2.6 million a year. More importantly, it showed that superyachts, like those due here next February, have a positive and significant economic impact on the countries they visit.

'The important contribution made by superyachts to New Zealand should not be overlooked,' stresses Ellie Brade, editor of Superyacht Intelligence and Pacific Editor at the highly-respected The Superyacht Group.

'New Zealand has a sterling reputation as a superyacht construction, refit and cruising destination.'

Brade says events like the NZ Millennium Cup produce many benefits. They give the local superyacht industry a platform on which to showcase their work to the world. They also help attract more superyachts here.

According to the NZ Millennium Cup’s Amy Welch, a single yacht undertaking refit work injects an average of $NZ6million into the local economy, while a yacht being built here from scratch will average out at about $NZ40million.

Even those yachts that do not undertake work make a significant contribution.

'Each superyacht generates approximately $NZ1million in economic benefit to Auckland, and to New Zealand, just as a result of being in our waters,' she says.

Planning for the 2013 New Zealand NZ Millennium Cup comes as local superyacht manufacturers bask in the glory of yet more international awards.

At the recent International Superyacht Society (ISS) awards in Florida, the 30–metre sailing superyacht Antares III, built by Yachting Developments in Hobsonville, won the award for the Best Sailing Superyacht in the 24-40 metre category. They also won the Best Refit 2012 Award for their comprehensive refurbishment of the classic 1934 America’s Cup J Class Endeavour.

At the same awards, the world renowned superyacht yard, Alloy Yachts, which is based in Henderson, won the ISS Award for the Best Sailing Superyacht over 40 metres for their 67.2-metre Vertigo. An incredible 19 Alloy Yachts’ vessels have now won international superyacht awards.

Among the yachts confirmed for the 2013 New Zealand NZ Millennium Cup is Ohana, a new yacht built by New Plymouth’s Fitzroy Yachts and a generating huge buzz in the global industry, and Silvertip, winner of both the 2011 and 2012 New Zealand NZ Millennium Cups.

Superyacht facts:

• A single superyacht build project in New Zealand generates around $NZ40million.
• A visiting superyacht injects around $NZ1million to the New Zealand economy, just by being in our waters.
• Superyachts contributed €24bn to the global economy in 2010.
• Jobs created by superyachts globally are worth €5.99bn annually.
• Up to 100,000 contractor/day-worker jobs.
• 33,000 crew employed on yachts worldwide.

[Source: Superyacht Intelligence Agency, Superyacht Economic Impact Report 2012]

The NZ Marine industry:

Currently generates around $1.7b
Exports around 40% of that (approx $640m)
Responsible for 10% of all New Zealand’s manufactured exports
Employs about 8000 people (or Full Time Equivalents)
Trains 450 apprentices annually

The 2013 New Zealand NZ Millennium Cup:

February 14-16, 2013
Begins with a cocktail party and briefing for captains and owners’ briefing on February 14.
Racing on Waitemata Harbour and Hauraki Gulf on February 15-16, punctuated with social events and entertainment.

Platinum sponsor:
Yachting Developments (builder of 2011 and 2012 winner, Silvertip).

Gold sponsors:
Fitzroy Yachts, Waterfront Auckland, Alloy Yachts, Touch of Spice.

Silver Sponsors:
Dubois, Doyle Sails, Smuggler Marine.

Bronze sponsor:
Gurit Asia Pacific

Official Apparel Partner:
Events Clothing

Hospitality Partners:
Mt Gay Rum, Stoke beer

Official Media Partners:
The Superyacht Group, Ocean Media

by Amy Welch


Click on the FB Like link to post this story to your FB wall

11:49 AM Mon 19 Nov 2012GMT

Click here for printer friendly version
Click here to send us feedback or comments about this story.

Marine Business News

Great Barrier Reef plan released for comment by Queensland Minister for Environment,

Brisbane Boat Show begins *Feature by Jeni Bone,

Command Thrust outboards with Counter-Rotation find eager market
Collinson FX Market Commentary: September 9, 2014 - UK Breakup
Record sales driven by new interest in catamarans
Southport Yacht Club celebrates opening of 68th season *Feature
Brisbane Boat Show starts Friday - biggest in 10 years! *Feature
Marine Auctions adds new recruits *Feature
Ministerial advisory group launched by united marine industry sector
2014 Auckland on Water Boat Show: Coming up at the end of September
Australian research sheds light on ocean garbage gyres *Feature
Sevenstar Yacht Transport names Kris Caren West Coast Representative
New Masts for an historic Australian boat - the Young Endeavour
Round the World racer joins Southern Pacific Inflatables
Dinghy foiling takes off around the world
2014 Gold Coast Int'l Marine Expo - Quintrex factory opens its doors
New exhibition explores role of Royal Australian Navy in WWI
18 anti-piracy weapons for ships to fight pirates
Hamilton Island Audi Race Week 2015 - Accommodation options
Sydney Sailboat Expo 2015 site confirmed
Skysol Frame Large: A new shading solution for sunroofs
Collinson FX Market Commentary: September 6, 2014 - Russian control
Collinson FX Market Commentary: September 5, 2014 - Nervous Election   
Collinson FX Market Commentary: September 4, 2014 - 'Rock-star' fades   
Enerdrive, national distributor for Fischer Panda Generators   
New earlier date for ICA’s Cruising Prep Seminar proving popular   
Southern Spars One Design complete 500th J/70 rig   
Camper & Nicholsons Yachts presents the Sagitta 42   
Brunswick Marine in EMEA announces intuitive user interface   
Hutchwilco expands sales and marketing team   
Collinson FX Market Commentary: September 3, 2014 - NZD trades strong   
Marina of the Year Awards - Now open for entry   
Grand Pavois - A chance to catch up with the trends   
RYA Digital Day at the PSP Southampton Boat Show   
Collinson FX Market Commentary: September 2, 2014 - AUD trades steady   
XCAT Series gets set to conquer another continent in 2015   
2014 Mandurah Boat Show - Third largest boat show in Australia   
Fishers invited to industry meetings   
2014 Gold Coast International Marine Expo - Eye on the big picture   
Yanmar re-powers harbour commuter ferries   
Andrew Scott joins Superior as General Manager *Feature   
Fish find sanctuary in Cove's Marina   

For this week's complete news stories select    Last 7 Days
   Search All News
For last month's complete news stories select    Last 30 Days
   Archive News  

Switch Default Region to:

Social Media





New Zealand

United Kingdom

United States

Cruising Northern

Cruising Southern

MarineBusiness World

PowerBoat World

FishingBoating World






Contact Us

Advertisers Information

Submit news/events

Search Stories/Text


Advertisers Directory

Newsletter Archive

Photo Gallery


Banner Advertising Details

Newsletter Subscribe

Video Gallery





Privacy Policy



Cookie Policy



This site and its contents are © Copyright TetraMedia and/or the original author, photographer etc. All Rights Reserved.  Photographs are copyright by law.  If you wish to use or buy a photograph contact the photographer directly.
LocalAds   DE  ES  FR  IT