A 127-metre superyacht currently berthed in Cairns is expected to contribute close to $1.95 million to the local economy during its stay, highlighting the significant economic opportunity that large superyachts can deliver to the region, confirmed by Superyacht Australia and Superyacht Group Great Barrier Reef (SYGGBR).
Based on Superyacht Australia’s visitation modelling, the estimated economic contribution includes approximately $641,000 in crew spending on food, retail, hospitality and recreation, and a further $1.23 million in vessel expenditure with local marine businesses and contractors engaged to service, provision and maintain the yacht.
Built by Oceanco in the Netherlands, its presence in Cairns highlights where the region can benefit most from superyacht visitation. Superyachts of this size require a wide network of specialist local trades to keep them in perfect condition during a visit, including shipwrights, engineers, divers, detailers, riggers, provisioners, fuel and logistics providers and hospitality operators. Every day a vessel like this is in port, it is local businesses and their employees who are doing the work.
Superyacht Group Great Barrier Reef has spent over 20 years building the relationships, infrastructure knowledge and reputation that make Cairns a destination captains and owners choose to visit and return to. This visit is a direct result of that work and demonstrates the type of visitation the region can attract with the right infrastructure and support.
David Good, Chief Executive Officer of Superyacht Australia, said: “This is a great example of what one vessel means for a regional economy. Close to two million dollars from a single stay, most of it going straight to local contractors and small businesses who keep these yachts in perfect condition. That is the value proposition Superyacht Group Great Barrier Reef has been putting to the region for years, and it is why we keep pushing for the marina infrastructure and workforce investment to capture more of it.”
The visit also points to a bigger opportunity. With Brisbane set to host the 2032 Olympic Games, Superyacht Australia believes vessels of this size and larger will be actively looking to base themselves in the region for up to a year before and after the Games, provided the marine industry and government partners plan and market for it properly now.
David Good continued: “Owners and captains of 100-metre-plus yachts are already asking about Brisbane 2032. They want deep-water berths, reliable provisioning and a skilled workforce on hand, the same things that make a visit like this one work in Cairns. If we plan our infrastructure, permitting and marketing properly over the next six years, the Games can do for the Asia Pacific’s superyacht sector what the America’s Cup and major events have done for other host cities. If we don’t, that spend and those jobs will stay with the yachts in the Mediterranean and Caribbean.”
Superyacht Australia and Superyacht Group Great Barrier Reef will continue to work with regional ports, marinas and all levels of government to ensure Asia Pacific is ready to capture the full economic benefit of large-vessel visitation, both now and in the lead-up to Brisbane 2032.
For more information, visit superyacht-australia.com and superyachtgroup.com
