Growing results during 59th Genova Salone Nautico.
During the Boating Economic Forecast, the latest edition of Nautica in Cifre was presented, the annual publication put together by the Market Analysis Department of UCINA, Italy’s Marine Industry Association, in partnership with the Edison Foundation and which can boast the patronage of the Italian Ministry for Infrastructure and Transport.
This report, now having reached its 40th edition not only for businesses, institutions and operators from across the sector, but in favor of all interested in this topic. The report provides with a series of key data and content for analysing in detail the economic framework of the Italian recreational boating industry.
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 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, our 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.