New Study Reveals 59 Million Economic Contribution by Yachting Industry

first_imgAt a national yachting stakeholders meeting held on 6th November at Sofitel Resort & Spa in Nadi, Industry Representatives, together with Government and Development Agencies were presented with the key findings of a recent Yachting Economic Impact Study for Fiji.The study highlighted the important contribution that the Yachting tourism sector makes to the Fiji economy, generating $59 Million per annum. While yachting tourism does not boast the large numbers of arrivals with only 4,330 crew & guests arriving on 714 yachts in 2018, it is one of highest yielding tourism segments with an annual average spend for each visitor per trip of $6,584 compared with the national average of $2,067 quoted in the Fijian Tourism 2021 Plan.Superyachts arrivals into Fiji have surpassed Australia, with each visit generating $167,000 with an annual overall contribution of $7.9 Million in 2018.The economic contribution by the sector is even more pronounced when one considers that yachts sail to many remote islands within the Fiji group that tourists do not travel to and “Yachties” tend to spend more on locally sourced food, supplies and repairs.The yachting study was developed in partnership with Port Denarau Marina, Vuda Marina and the Australian government funded Market Development Facility (MDF) and produced by international consultancy firm, AMSTEC Pty Ltd.According to Cynthia Rasch, General Manager, Port Denarau, the Marina is delighted to partner with MDF to carry out an independent study. “The yachting industry plays a vital role to the growth of Fiji’s economy and this study will indicate their measurable economic, employment, social and environmental contributions to the local communities.”Adam Wade, General Manager, Vuda Marina echoed Rasch’s comments, “Many people are unaware of the diverse nature of the yachting industry and how there are numerous businesses that have been created organically to meet the needs of this vibrant and emerging community of adventurous travelers.”MDF Fiji Country Director Mujaddid Mohsin said “MDF is pleased to partner with Fiji’s two largest Marinas in producing the yachting study to support more evidence-based policy dialogue and encourage new industry growth initiatives by local stakeholders.”Market Development Facility (MDF)The Market Development Facility (MDF) is a multi-country private sector development program funded by the Australian Government, operating in Fiji, Timor-Leste, Pakistan, Sri Lanka and Papua New Guinea.MDF partners with a range of businesses in Fiji to stimulate investment, business innovation and regulatory reform to benefit people involved in Fiji’s tourism, export processing and horticulture industries, particularly the poor. In Fiji, MDF-supported activities will create 650 new jobs and increase incomes for 16,320 men, women by 2021.For further information contact:Talei Tora, Communications Specialist, Market Development Facility (Email: Talei.Tora-MDF@thepalladiumgroup.com, Telephone: 310 0272 / 7772 063)The post New Study Reveals $59 Million Economic Contribution by Yachting Industry appeared first on Discover the South Pacific.Source: Bloglast_img

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