An enlightening debate among the world’s leading figures in the yachting industry to highlight the significance and economic influence of yachting globally, particularly on the South French Riviera and the Principality of Monaco. The “La Belle Classe Superyachts Business Symposium,” an annual event organized by the Yacht Club de Monaco, recently celebrated its 16th edition. This event, structured as a dinner-debate under the framework of the Monaco, Capital of Advanced Yachting project, is a key occasion for boating on the French and Monegasque coasts. Set in the heart of the Région Sud, which, thanks to its prime location and attractive marinas, draws in over half of the world’s fleet of yachts over 30 meters each year, this participation has increased sixfold in the last 35 years.
“With over 2,000 yachts in the Western Mediterranean within the golden triangle between Italy, Spain, and the French Riviera, and of the 5,500 boats globally that exceed 30m, the Région Sud and Principality are significant players,” stated Bernard d’Alessandri, YCM General Secretary and President of the Cluster Yachting Monaco. “This symposium offers a unique opportunity to unite owners and industry professionals to analyze current trends and issues while exploring new opportunities and challenges for the sector.”
The Yacht Club de Monaco’s headquarters
Primarily focused on maintenance and refit services in the west (La Ciotat, La Seyne-sur-Mer, Marseille), the regional industry in the east is dedicated to commercial and tourism activities (Hyères, Saint-Tropez, Cannes, Nice). Through ports, shipyards, subcontractors, and brokers, the Région Sud provides comprehensive services for yachting. With a globally recognized sailing area, combined with geopolitical stability and security, the region is a major hub for both technical and tourism aspects of yachting in France.
The economic study of yachting in the Région Sud
According to a study by Earthcase, initiated by the CRT (Regional Tourism Committee), the yachting sector’s economic impact is substantial, amounting to €1.1 billion and generating 10,200 jobs in the region. More specifically, the technical ecosystem contributes €438 million and 3,600 jobs, while the tourism element generates €663 million and employs 6,600 individuals.
“Conducting economic studies was crucial to obtaining stable and reliable data for formulating an appropriate policy based on concrete facts,” stated François de Canson, President of the CRT (Regional Tourism Committee). “The goal is to provide recommendations to the industry while respecting the economic-environmental balance.”
Francois de Canson at La Belle Class Superyachts Business Symposium 2024
The “La Belle Classe Superyachts Business Symposium” also provided a platform for Pascal Ferry and Benjamin Cauquil, Deputy Director and Research Manager, respectively, at IMSEE (Monaco’s national statistics office), to present the latest figures regarding the maritime and yachting economy in the Principality. This detailed study, the first of its kind by the Monegasque institute, focuses exclusively on activities directly related to the maritime and yachting economy.
The study reveals that yachting is a thriving sector, with revenues in 2022 amounting to €567.1 million, which accounts for 3% of the Principality’s total revenue (excluding financial and insurance activities). The yachting sector comprises 411 establishments or 3.7% of the total businesses in the Principality, employing 1,429 individuals, representing 2.4% of Monaco’s workforce. Yacht brokers lead the job market in yachting within the Principality, providing 431 jobs or 30.1%. The analysis only includes establishments whose primary activities are related to pleasure boats. Specialized design activities alone contributed over €20 million to yachting revenue in 2022.Also, Introducing the Stunning Riva 70-Meter Unveiled in Monaco
The full study can be found on the IMSEE website.
The environment at the center of the “La Belle Classe Superyachts Business Symposium”
The Région Sud is committed to making necessary investments to support the boating sector’s technological and energy transitions. The challenges faced include environmental concerns (such as protecting coastlines, preserving marine and terrestrial environments, and enhancing coastal quality of life) as well as economic aspects in technical and tourism sectors, emphasizing innovation, excellence, exemplary environmental practices, berth capacity, and social acceptance.
“We must exemplify the yachting of tomorrow, as it is in the Western Mediterranean where everything is created and put into practice. This is the mission we are embracing in southern France alongside President Renaud Muselier,” concluded François de Canson. “By collaborating with the Principality, we will be equipped to face these challenges while ensuring our region remains attractive and continues to develop this sector.”
The next yachting events in Monaco
Following the La Belle Classe Superyachts Business Symposium, YCM looks forward to the 7th Monaco Ocean Week (March 18-22, 2024), organized under the initiative of the Prince Albert II of Monaco Foundation in collaboration with the Monaco Oceanographic Institute, Monaco Scientific Centre, and Yacht Club de Monaco. As in previous years, YCM will lead the day dedicated to yachting on Thursday, March 21.
An exciting program awaits, featuring an Environmental Symposium focused on Exploration, attended by the highly esteemed Explorers Club, followed by the YCM Explorer Awards by La Belle Classe Superyachts. The 2nd Monaco Smart Yacht Rendezvous will also be held, organized by Monaco-based experts M3 (Monaco Marina Management) in partnership with the Prince Albert II of Monaco Foundation. This event unites experts in innovation, architects, and yachting enthusiasts from around the globe, providing a unique platform to foster collaboration and discover intelligent, sustainable technologies shaping the future of yachting.
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