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High-end yachts – that is, large yachts over 18 meters – are the sector with the most significant spillover effect on the region. This alone accounts for 65% of the total economic impact of the sector (valued at €27.7 billion and employing 157,000 people) and 80% of upstream value (shipbuilding – newbuildings, refits and special maintenance). Moreover, despite representing only about 2% of the fleet visiting Italy, it generates 55% of downstream value, that is, from the use of the vessels. It can be said that the cost of a large yacht in the territory is 26 times higher than the average. The industry in question is remarkable, but there is a big problem in Italy: only 6.5% of superyachts (over 24 meters) carry the tricolore.
The Altagamma-Deloitte study “Boats in Italy” assesses the situation, explaining that despite being the world leader in the production of yachts over 24 meters, there is still a huge untapped potential: “The fact that only 6.5% of superyachts fly the Italian flag inhibits the beneficial impact they have on the territory. It is therefore necessary to intervene to increase the attractiveness of our flag, charters on our coasts, the inclusion of VAT in hotel activities and our marinas, which are true nautical tourism destinations.” Altagamma is a prominent figure in the nautical world and President of the Azimut|Benetti Group. “There are only 172 superyachts flying the Italian flag and moored in Italian ports, while 5,000 superyachts have been built in the country in the last 10 years”, continues Vitelli. Restaurants, shopping, hotels, spas: the impact on the Italian supply chain within the mooring area is considerable, also starting from the assumption that these ships stay on the Italian coast for an average of 25/30 days. «But what is even more interesting is when they dock permanently on our shores: this also activates the expenditure related to the ‘hardware’ part, such as the crew: a ship over 24 meters needs between 3 and 15 people on board to do the following jobs: the average salary is very high. Then there is also the berths, the docks, the maintenance and repair of vehicles. The turnover is very significant and as a country we could get a bigger share of the pie”, Vitelli points out.
The main development guidelines for increasing nautical tourism therefore consider regulatory adjustments to make the Italian flag more attractive, as well as greater investments in port infrastructure and related services, improving technical and managerial skills, developing innovation and sustainable development platforms. Specifically, Altagamma proposes to bring ship leasing and charter into the parameters of the tourist-hospitality sector (in terms of VAT rates), reducing VAT (currently 22%) to 10% (interesting in comparison with the 12%/13% proposed by Croatia and Malta, Italian competitors). Adapting the procedures and regulations of the Italian flag to those of other international registrations in order to increase their attractiveness, and simplifying the bureaucratic procedures related to, for example, checking cruisers or recruiting cruise ships.
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