In 3rd Place - UK Superyacht Industry
Ranked in third place in the world, but still growing, the UK’s superyacht industry has recently seen growth for its 6th year in a row, with Superyacht UK reporting that two thirds of businesses in the industry are confident that the future continues to look bright.
That's pretty good going, given all the uncertainty around the UK’s impending withdrawal from the EU. It’s great that international demand still looks mainly stable, in part due to the pound being weaker, but also due to a significant increase in turnover in 2017/18, with £520m in GVA (gross value added) contributing to the UK’s GDP (gross domestic product). With the UK a proud leader in superyacht design and manufacturing, it’s no surprise we’re currently taking up the 3rd ranked spot in the world for deliveries.
Brexit does pose significant unknowns though, particularly for international trade relations and crucial supply chains, in a state of flux about what the new norm will look like, once the UK withdraws from the EU. Understandably European partners are hesitant to take risks or step into the unknown by working with businesses based in the UK, so it’s more important now than ever that we explore and invest in opportunities within our domestic market as well as overseas.
It’s also vital that as an industry we take responsibility for the part we play in affecting the environment around us and make sure we improve our superyachts, the impact they have on our oceans and how we can incorporate green technology for a more responsible, sustainable approach to superyachting.
Right here in the UK, the superyacht industry offers a vast array of extraordinary capabilities. From industry leaders in naval architecture, design and refit of some of the world's most luxurious yachts, to high quality equipment, technology and innovative development.
As an industry, we’re seeing good progress all the time, with improvements in fuel-efficiency, solar-panelled sailing yachts and electric drive, but to further improve our eco-credentials we need to keep progressing, challenging each other as a collective and moving forward together in a cleaner more sustainable way, embracing green technology so that we continue to focus on reducing our environmental impact.