The country’s yachting industry saw a remarkable export value of €4 billion, a 15.9% increase from 2022, highlighting its robust growth even amid challenging economic conditions.
Italian shipyards, such as Ferretti Group, Sanlorenzo, and The Italian Sea Group, have significantly contributed to this success. For instance, Sanlorenzo reported substantial growth, with its order book value reaching €1.7 billion by September 2023. This surge is partly driven by increasing demand from Europe, which remains a pivotal market for Italian superyachts. Additionally, the Middle East has emerged as a crucial region, with a notable 129.7% growth, compensating for slower growth in the Americas.
The Italian superyacht market’s resilience is also demonstrated by its capacity to cater to both high-end luxury segments and smaller craft markets. Although the latter is expected to face some challenges in 2024 due to external economic factors, the overall sentiment remains positive, with many companies expecting stable or increased turnover.
Overall, Italy’s shipbuilding prowess, innovative designs, and strong international demand ensure its continued leadership in the luxury yachting sector.