The study on the economic and employment impact of the Italian nautical industry, highlights the sector’s global leadership in some segments, such as superyachts, and its growth exceeding Italy’s GDP, with a 6 percent increase in the two-year period 2021-2022.
Giovanna Vitelli, vice president of Altagamma and president of Azimut-Benetti, pointed out that Italy is a world leader in the construction of superyachts, but only 6 percent of them fly the Italian flag. This limits the positive economic impact on the area, suggesting the need to make the Italian flag more attractive and improve nautical and tourism infrastructure.
Recreational boating in Italy has a total economic impact of about 27.7 billion euros and employs 157 thousand people, with an economic multiplier effect of almost 2.7 times and employment of 6 times. The study distinguishes between upstream and downstream impacts of the supply chain, with a significant influence on nautical tourism, especially during the summer season thanks to the Italian coasts. The total economic impact of the fleet is 16.3 billion euros, a third of which comes from tourism spending.
Only 30 percent of berths in Italy are adequately equipped for yachts and superyachts. More yachts registered in Italy, with Italian crew, could generate a significant annual contribution to the economy and employment. The development of port facilities is therefore essential to fully exploit the growth potential of the nautical sector.
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