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Round of applause for the UK Superyacht Industry

We don’t know if you’ve heard, but the UK superyacht industry is doing great right now. In fact, a report by British Marine says that superyacht revenues for the year to April 2016 had reached £605m.

UK Superyacht Industry

Gif credit: Beamley

Haven’t heard of British Marine? Well, in layman’s terms, they’re a membership organisation for the British maritime industry who like to publish long and complicated reports. Funny thing is, the data in these is actually pretty good reading! (if you’re a superyacht nerd like we are anyway…)

In fact, revenues for the entire maritime sector grew by 1.6% to £3.01bn. This means that UK companies such as Sunseeker and Princess are reaping the rewards!

Why is the UK Superyacht Industry doing so well?

Well, exports for 2017 were actually down by 0.7%. But thanks to Brexit (we know, right?) the fall in the pound against the dollar and euro has actually boosted buying power from overseas customers. It’s the first time the £3bn mark has been breached since that financial doom in round about 2008…

On the other hand, the report also states that everyone expects this growth to slow in 2017 “as economic volatility increases closer to and during negotiations over the UK’s exit from the European Union.”. Hmm.

UK Superyacht Industry

Gif credit: Simpsons World

But not to fret! Howard Pridding, chief executive of British Marine, has said that “the industry remains robust – revenue is growing and we are taking on more employees.”

UK Superyacht Industry

Gif credit: Tumblr

Excellent, indeed.

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