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Another year of growth for UK superyacht industry

The number of workers employed in the industry has increased by 1% to 5,155.

A general view of the superyacht Lady M moored next to the Glasgow Science centre on the River Clyde (Andrew Milligan/PA)
A general view of the superyacht Lady M moored next to the Glasgow Science centre on the River Clyde (Andrew Milligan/PA)

By Alan Jones, PA Industrial Correspondent

Britain’s superyacht industry has recorded its seventh year of consecutive growth, new figures show.

Revenues rose to £660 million in 2018/19, an increase of 7.1% on the previous year.

The number of workers employed in the industry increased by 1% to 5,155, with 45 new yachts built, one fewer than the previous year.

Two-thirds of UK superyacht revenue comes from exports, with the United States and Eurozone accounting for half the UK export market.

The US took 41% of exports, having grown from 34% in 2018.

Lesley Robinson, chief executive of British Marine, said: “As UK businesses set sail to Monaco Yacht Show this week to showcase the best of our British superyacht industry, we are delighted to see the UK sector grow for the seventh year in a row.

“The UK is the third largest builder of superyachts in the world and these new figures show that ‘British built’ continues to remain in high demand across the globe.”

PA

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