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Big spending superyacht visitors expected to boost economy

Author
Daniel Walker,
Publish Date
Tue, 21 Nov 2017, 5:46PM
Yacht owners spent big when in Bermuda for the last cup. (Photo/Getty)
Yacht owners spent big when in Bermuda for the last cup. (Photo/Getty)

Big spending superyacht visitors expected to boost economy

Author
Daniel Walker,
Publish Date
Tue, 21 Nov 2017, 5:46PM

The marine industry's preparing for superyacht owners spend excessively for the America's Cup.

Superyacht visitors alone will add more than $400 million to the economy in 2021, according to a report from NZMarine.

160 superyachts are expected to visit, spending an average of $2.7 million each.

That may sound too good to be true, but NZMarine Executive Director Peter Busfield said Bermuda saw huge benefit from the yacht owners.

One person spent nearly $300,000 on flowers for his boat.

"These people own these mega-yachts, Money doesn't seem to be a major problem. If the owner wants something, then they get it."

It's expected the money will gome from boat refits and repairs, staff accommodation, and tourism spending.

Busfield said it's critical Auckland reserves the waterfront's Site 18 for the big-spending visitors.

"It's no use using the limited amount of infrastructure we have, or planned infrastructure, for servicing superyachts to go and whack syndicate bases in there. Which means we won't reap the benefit of the super yachts visiting New Zealand."

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