Optimism in the British superyacht sector is at a seven-year high, according to the latest BMF survey
On the back of a highly positive show season, the British superyacht market is predicting an even stronger 2015.
Confidence in the sector is at a seven-year high, according to the latest survey by the British Marine Federation’s association Superyacht UK.
The outlook for the next 12 months was viewed as good or excellent by 69% of companies in the superyacht manufacturing and supply business.
This comes on the back of 7.1% annual growth in the sector, meaning that the superyacht market is now worth £492million to the UK economy.
Revenues are up for 48% of companies, 59% reported a higher workload, but only 43% have seen this translate into higher profits.
What’s more, 30% of companies have increased their workforce in 2014, bringing the total number of people employed in the superyacht sector to more than 3,600.
Mike Carr, chairman of Superyacht UK, said: “We are delighted to see the UK superyacht sector going from strength to strength, as demand for UK builders and suppliers and talent continues to grow.
“Its success is testament to our long-standing heritage in the superyacht sector, combined with the breadth of areas which that the UK has continued to excel, from engineering; to legal services; to design.”
The news comes after the announcement of a new London superyacht show, which will take place at Old Billingsgate Market in April 2015.
The London Yacht, Jet & Prestige Car Show will feature the likes of Princess Yachts (pictured above), Lurssen and Sunseeker Charters from 8-10 April.