Presenting a snapshot of data that highlights how much superyachts spend in an average week …
Yesterday it was announced that after a period of tight restrictions Thailand will be opening up to superyachts again. However, it was not until the start of the year (February 2021) that foreign-flagged superyachts were actually able to charter effectively in Thailand, hampering the country’s ability to develop its superyacht industry. Part of the problem facing Thailand and various other countries around the world is that industry stakeholders have struggled to prove the value of the superyacht industry. Here we take a snapshot of the data created by the Superyacht Agency for a Pacific Island to prove the value of the superyacht tour.
The temptation of global tax authorities has always been to charge owners a percentage of the value of the hull to import the vessel and use it for commercial purposes. While this appears to be an attractive and relatively easy way to generate tax revenue, with the added bonus of the government being seen as taxing the wealthy, it has actually led owners, captains, and various other interested parties to avoid tax dollars. nations with draconian practices. import requirements and opt for chartering the yacht in a more convenient location. So the key has been to show these governments what revenue they have missed.
The expenses of a superyacht will of course vary from location to location, depending on the size of the ship and the time of year. So it’s important to note that the spending figures here were determined for a small island nation and can’t just be applied anywhere at any given time, they compare the difference in weekly spending for 30 to 40 superyachts. m and superyachts from 50 to 60 m. For a more detailed breakdown of superyacht spending across size ranges or a dataset that applies to a particular location, please contact The superyacht agency.
On average, a 30-40m superyacht visiting a small island nation will spend â¬ 25,201 per week on operating and guest expenses, with in-store purchases and fuel being the two biggest expenses. Indeed, fuel and shopping in stores are also the two most important expenses for large 50-60m vessels (but in their reverse order), although all expenses have, unsurprisingly, increased significantly in value. . Fuel more than doubled, from â¬ 6,577 to â¬ 13,949, while in-store purchases increased by a much smaller amount. The weekly total of operational expenses and guest expenses of a superyacht of 50 to 60 million euros increases to 41,877 â¬.
The way costs are categorized between the two size ranges does not vary except between store purchases and fuel, with the two size categories having the same order of spending, most expensive to less expensive. The lowest costs are for the rental and transportation of private cars, as well as housekeeping supplies and services.
However, it’s not just the guests and operational expenses that contribute to the overall spending of superyachts and more and more facilities, whether summer destinations or wintering hubs, have started to increase. pay attention to the role of the crew. There are a number of reasons to consider crew in any investment policy or strategy aimed at increasing superyacht traffic.
For starters, people often underestimate the influence of the crew on the popularity of wintering destinations in particular. Since owners and captains are keen to keep their best crew on board, a location that meets the diverse needs of the superyacht crew, provided the costs are not exorbitant, will always be preferable to a location that l crew find it disagreeable. Second, if crew members like a location, they’re much more likely to spend their money locally.
According to our data, the average crew of a 30-40m superyacht will spend â¬ 2,727 per week during the summer and â¬ 3,779 during the winter periods. In the first case, the most important expenses are to eat and drink with the least money spent on training courses. Expenses increase everywhere in winter (except for food and drink) probably because the crew has more free time and no guests or owners to worry about on board. The most significant expenses during the winter are for travel and home visits.
As might be expected, the amount spent by the crew during the winter and summer periods increases dramatically as the size of the vessel increases. Naturally, this growth is stimulated by the fact that there will be more crew on board the ship. In fact, the average weekly expenditure of the crew aboard a 50-60m superyacht climbs to â¬ 6,017 in summer and â¬ 11,626 in winter. The amount that the superyacht crew contributes to local communities is significant and as a result more regions and facilities are taking into account the impact of the superyacht crew.
In order for governments or investors to make meaningful changes to boating infrastructure or policy, they must have access to data that can be invested. Being able to prove the benefits of the superyacht trade has helped regions like Thailand, Australia and others to develop their policies and grow their superyacht markets.
The average weekly spending of a superyacht is obviously only a small part of the whole data puzzle. The real strength of consulting is that the data overlaps to create a clear picture of strengths, opportunities and weaknesses. Overlaying average spending data with migration data, for example, creates a powerful resource. For more data relating to the economic investment strategy, click here to contact The superyacht agency.
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