New Zealand’s Marine Industry Clocks in Healthy Growth

Super yachts are part of the super luxury segment that was hit the hardest due to the economic downturn and the recessionary pressure. But the sales data coming out of New Zealand indicates clearly that the process of turnaround has started and the growth rates achieved are very encouraging. Annual sales of New Zealand boats and equipment are likely to increase by more than 50 percent to NZ$2.66 billion ($2 billion) by 2015 as demand for luxury yachts returns, according to an industry body.

New Zealand Marine Industry Association was optimistic about the future as local ship builders had sold 10 super yachts in the last 11 months compared to none in the previous 14 months. New infrastructure in key ports was also expected to help the growth of the industry. The annual turnover recorded by the industry this year was NZ$1.7 billion and the projected growth for the coming years is very healthy.

The association is very proud about the contribution it is making to the New Zealand economy. Lot of refits are also being done for the super yachts in New Zealand In fact Athena, one of the world’s largest aluminum pleasure boats is moored on one of two 90 meter berths at Auckland’s Westhaven marina.

Via: bloomberg, nzmarine

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