Thursday, November 28th, 2019

Aussie Rules Change Boosts Superyacht Industry

Aussie Rules was the name of the superyacht once owned by the famous Australia Golfer Greg Norman.

Now a new set of Aussie Rules are set to boost the superyacht industry down under

The Government of Australia has introduced the Special Recreational Vessels Bill 2019 that will allow foreign owned superyachts to charter in Australia.

The new Aussie Rules are expected to unlock an estimated 11,800 jobs and A$1.64 billion in revenue to the Australian economy by 2021.

Charter vessels make up more than half of the world’s superyacht fleet. There are currently more than 5,000 superyachts in the world, growing each year by an additional 150 new yachts.

Under the previously enforced Aussie Rules these vessels could not operate commercially in Australia unless they fully imported the vessel. That in its self was thought to be the biggest single deterrent to foreign superyacht owners considering cruising in Australian waters.

Australians plays an important role the superyacht industry with over a quarter of the world’s Captains and crew, over 14,000 people, hailing from the nation.

The nation has however seen its other roles in the industry slip away as designers ship out to work abroad and shipyards are forced into closure.

It is hoped that those industries that will benefit will be tradespeople and small businesses, says David Good, CEO of Superyacht Australia.  He adds: “As each vessel spends 10 to 12 percent of the vessel’s value each year in maintenance, service and repairs. 

The likely change in Aussie Rules will allow Australia to catch up to our neighbours who all have booming superyacht economies, says Good. New Zealand, Fiji and Tahiti enjoy thriving marine industries, dominated by charter vessels.

Announcing the change to the Aussie Rules David Good, welcomed news that the Bill was moving through Parliament. He said; “Now is the critical time to act.. Huge events in the Pacific over the next 18 months will mean large numbers of superyachts will be in our region.  The America’s Cup in Auckland 2021 are expected to bring around 160 superyachts to our region – which is on the radar for superyacht owners for the marvellous cruising grounds and world-class service facilities Australia offers.”

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