Barring superyacht owners from entering New Zealand is a missed economic opportunity for "pampering to the poor," according to the Marine Industry Association.
New Zealand Marine Industry Association executive director Peter Busfield told Breakfast 160 superyachts were expected to enter the country, with many more on the way, when 100 of the vessels were forced to turn around due to the Covid-19 pandemic.
Busfield said their arrival was expected to generate more than $400 million for New Zealand’s marine economy, which he called “very disappointing but understandable” and a “reality of the past year”.
“About 50 per cent of the economic gain directly relating to hosting the America’s Cup — we’ve basically lost 90 per cent of it,” he said.
It comes after what would have been the largest superyacht to enter New Zealand waters was forced to turn around yesterday as the crew was too large to operate in a bubble. The superyacht has since arrived in Australia.
Peter Busfield talks about the economic benefits of superyachts visiting Aotearoa. (Source: Other)
The New Zealand Marine Export Group CEO said there would be over 200 companies in the marine industry alone that “would have been gearing up”, with a “substantial number that specialise only in superyachts”.
He said some of the businesses have “closed their doors and reducing staff because that’s what they do and the superyachts have not been coming here”.
Busfield said the country saw 20 superyachts enter the country last year for refits, down from “40 or 50” on a normal year. Around 160 would be in New Zealand for the America’s Cup.
Russian billionaire Viktor Rashnikov’s Ocean Victory will spend two months in the City of Sails. (Source: Other)
“We got a few in but those few is less than 50 per cent of what we’d get in a normal year so the industry in that sector is really suffering.”
He noted that the Government stipulated there would be a minimum spend – along with compliance with Covid-19 restrictions — for superyachts entering the country during the pandemic.
The 180-foot Plvs Vltra was launched in 2017 after being built by Amels, and features an interior similar to a high-end hotel. (Source: Other)
“In the media, a lot of people thought, ‘Why are we pampering to the rich?’ while I see it [as] pampering to the poor because what this is is a wealth transfer from wealthy people overseas for the poor people of New Zealand or the middle class of New Zealand.”
Busfield said while an Australian tourist might spend $200 when they visit Queenstown, a superyacht owner might spend $10,000 “so it helps the regions of Queenstown, the Far North, the flower growers in Pukekohe – it’s wealth transfer to the people of New Zealand so we should actually look forward to these people spending money here".
At 134m long and five levels high, Serene is one of the 10 largest superyachts in the world. (Source: Other)
“Forget about they’re wealthy — yes, they are — but let them spend their money in New Zealand.”
He said the America’s Cup will have a long-term benefit for New Zealand “but we’ve got to be creative and innovative and actually grab it and take that opportunity”.
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