19/10/2021
Herein we look at a snapshot of data created by The Superyacht Agency for a Pacific island to prove the value of visiting superyachts.
The temptation on the part of global taxation authorities has always been to tax owners a percentage of the value of the hull to import the vessel and use it for commercial purposes. While this seems like an appealing and relatively easy way to generate tax revenue, with the added bonus of the government being seen to tax the rich, in reality, this has just led owners, captains and various other interested parties to avoid the nations with draconian importation requirements and to opt for chartering the yacht in a more convenient location. The key then has been to show these governments what revenue they have been missing out on.
A superyacht’s spend will of course vary from location to location, by the size of the vessel and depending on the time of year. It is important to note, therefore, that the spending figures herein were determined for a small island nation and cannot simply be applied to anywhere at any given time, they compare the difference in weekly spend for 30-40m superyachts and 50-60m superyachts.
For a more detailed breakdown of superyacht spending across all size ranges or a data set that applies to a particular location, please contact The Superyacht Agency - link in bio.
Full article in bio.