Yachting is a sport, a tourism product, a repair and services industry and a regulated sector all at once, Yachting Malta Chairman John Huber told TEMPLE magazine in an interview on the state of the Maltese yachting industry.
He pointed to the economic weight of events. An economic impact assessment commissioned by Yachting Malta found that the Rolex Middle Sea Race had a positive impact of just under €5 million, “a direct injection into the Maltese economy from an event that basically lasts a week.”
Yachting Malta’s main remit, he explained, is to attract new events and strengthen existing ones. He cited the classic yachts that had just arrived from Saint-Tropez in the Trophée Bailli de Suffren, whose coverage on Inside Sailing reaches 58 stations worldwide and a potential audience of 900 million viewers. He also cited an enhanced live stream of the Rolex Middle Sea Race start, and support for Birżebbuġa Sailing Club’s first international regatta, for Vikings Sailing Club and for the Malta Young Sailors Club’s Euromed Championships.
Working with the Superyacht Industry Network Malta, Yachting Malta also helps promote the islands at the Monaco Yacht Show and the Cannes Yachting Festival as a centre of excellence for yards, maintenance and repair. “We believe that luxury tourism and yachting go hand in hand,” Huber said.
Photo Credit: Deea Buzdugan
