A new marine cluster grouping together 27 companies from Genoa, Italy was launched this week. Collectively, the companies have 680 direct employees, €110m combined annual turnover, 360,000sq m of working space and a spin-off turnover of allied industries worth more than €300m per year. They are all active in the yachting sector on an international level.

The objectives of the new cluster are to work together with the institutions in order to make professional yachting a strategic vocation for the Genoa of the future, together with the high-tech, culture and tourism industries. The cluster includes businesses in yachting services, marinas, yacht builders, and technology sectors. This is described as “an expression of Italian know-how in an extremely competitive international sector.”

“Since the 1990s, Genoa has acquired an ever more central role at an international level in the super and megayacht services market, thanks to its commitment, professionalism and competitiveness, also thanks to the work of the numerous operators who believed in this sector’s development,” says Giuseppe Pappalardo, CEO of Marina Genova Aeroporto Srl.

“This has been the driving force that has brought us together, creating a spontaneous group that can be recognised as a professional yachting cluster, so as to actively contribute to the development of the economy of our city and indeed of all the territory, representing a strategic opportunity for Genoa,” he added.

“The direct economic data and the values that Genova for Yachting have registered a marked increase over the last three years, proof that our city has what it takes to be competitive with other Mediterranean yachting hubs,” Nicolò De Angelis, Research & Development Genoa Sea Service Srl, pointed out.

“The latter is the result of precise development politics based on the collaboration and integration between the public and private sectors. We are convinced that teaming up together is certainly the best way forward to further this growth.”

The world superyacht market today consists of a fleet of more than 5,000 vessels over 30m long that will grow to be more than 6,200 by 2023. Such a fleet generates a direct annual Opex estimated in €6bn with a significant impact both on the territories visited and on ports used as a base. The Mediterranean Sea is certainly the preferred destination of the fleet and more than half of the fleet (56%), in fact, remains stably in the Med over the winter.

On the basis of sector economic studies, the turnover in the territory of ancillary industries linked to yachting is estimated to have a 1:3 rapport. This signifies that the 26 companies of the newly constituted group can create, annually, a spin-off value of €330m that is mostly spent in the Genoa city and metropolitan area. Furthermore, the areas dedicated to professional yachting have strong links to the territory and have a low environmental impact: often they create services and places that are useful to the city, such as the Marinas, to cite one example.

“Our group has arisen as a spontaneous aggregation and is open to all those who operate on our territory providing services to super and megayachts, whether they be marinas, shipyards, technological services or specialized companies,” said Alberto Amico, Chairman of Amico & Co Srl. “We have made this move conscious that a great amount of teamwork is necessary to bring to light and inform the opinion of the public and the authorities regarding the potential of this sector, with the aim of creating a tangible development strategy for Genoa.”