Prof. Marco Fortis, Vice President of the Edison Foundation, Enrico Duranti, President of Assilea – the Italian Leasing Association, Giorgio De Rita, Secretary General for Censis, Stefano Pagani Isnardi, Director of UCINA’s Market Analysis Department, and Saverio Cecchi, President of UCINA, commented on the market data for 2018 published in the report, focusing on the industry’s future.
The sector’s global revenue in 2018 reached 4.27 billion euros, +10.3% compared to 2017, yet another double-figure increase for the fourth year running. Italy’s recreational boating industry has recorded a significant and now consolidated recovery: from the smaller figures registered in 2013, revenue has now grown by 75%, a performance no other sector in Italy has come close to matching.
Direct employment is also up (for a total of 22,310, +13,8% compared to 2017), as is the industry’s contribution to the country’s GDP (2.02‰, a 10,6% increase on the previous year). The domestic boating industry as a whole is also on the rise, mirroring the global trend as it achieves a 10.7% growth, for a total of 1.48 billion euros, with a specific increase in Italy’s domestic recreational boat production of 15.2%.
Shipyards are the most significant segment to contribute the recreational industry revenue (2.75 billion euros, equal to 64.5% of the total), followed by accessories (1.16 billion euros, reaching 27.1%) and motors (358 billion euros, 8.4% of the total).
Following the success of recent years, exports are also riding a positive trend, an area that has allowed the national boating industry to recover from the crisis that had gripped the world’s markets thanks to the globally renowned excellence of Italian production, confirming Italy’s role as world leader in superyacht production (yachts over 24 metres). This last segment once again sees Italian shipyards as the undisputed leaders worldwide, covering 46% of the world’s orders, according to the Global Order Book. Italian inflatables over 7 metres are also first in the world. Among the sectors that have seen exports grow the most over the past two decades, the boating industry is in ninth place.
The data processed by the Edison Foundation gained from Istat and ITC-UN Comtrade, in the leader board for world exporters in 2018 from the boat building sector, see Italy second only to the Netherlands, with 2.175 million dollars and 13.2% of world exports, showing a 16.1% growth since 2017.
As for key foreign markets, the US is first for recreational units exported from Italy (23.9% of total exports), for a value of 476 million dollars.
Enrico Duranti, President of Assilea – the Italian Leasing Association: “For the first semester of 2019 Assilea has witnessed a stable situation for the number of contracts compared to 2018. The financial leasing sector in particular represents 80% of purchases, most of which are for personal use and for new products. We are seeing a positive forecast for growth in sustainable mobility. Investments with sustainable characteristics will remain a priority.”
Marco Fortis, Vice President of the Edison Foundation: “The sector is following a very positive trend, we have seen five years of recovery following the less impressive figures of 2013. Both exports and the domestic market are showing signs of strong recovery. Generally speaking we can currently see a broadly positive trend. Domestic production is very articulated and of exceptional quality, influencing many different types of product. As always the excellent performance shown by our companies derive above all from the enormous demand for Italian products on behalf of foreign markets: only made in Italy boat exports are worth over 2 billion euros today.”
Saverio Cecchi, Presidente UCINA Confindustria Nautica: “The figures announced today confirm that our sector is the sector the government needs to focus on in order to drive the economy and employment, especially with regards to the significant increase in the industry’s workforce, which over the past two years has seen an incredible growth of 20% in direct employment”.
At the end of the Conference, the Undersecretary for Foreign Affairs Ivan Scalfarotto stated: “I am delighted to have taken part in the opening ceremony of the Genoa International Boat Show, a key event for such a successful sector for the Italian economy in terms of exports. The Government will remain close to this industry that contributes so much to Italy’s global fame.”