Yachting in Italy: cautious optimism and forecasts

Cofindustria Nautica - Provided reports for 2020 and forecasts for 2021-2022 for the yachting sector. While cautious optimism reigns, shipyards and equipment manufacturers will definitely not be left idle.

In outline

By the end of 2021, the Italian maritime industry is expected to grow by more than 20% in one year. Based on the updated data received on August 31, 2021, yacht turnover is expected to grow by + 23.8%. 

The entire maritime sector of Italy in 2021 - from 5.5 to 6 billion euros. If the data is confirmed, it will be a real success. The industry has not seen such prices for at least 10.

Export is the head!

The shipbuilding sector is increasing its export activity starting June 30, 2021. The order book reached 2.8 billion (!) Euros. Even so, many shipyards are already occupied for the next 3 years. This gives every reason to believe that the further schedule will only get denser. The shipyards are unlikely to be empty.

At the same time, in 2020, the situation was less rosy. If you look at the statistics for the past year, you can observe a serious decline in activity and prices. 

This situation is observed not only in Italy, but throughout the Mediterranean. At the same time, this year's indicators gradually cover the entire negative effect of the previous year. The shipyards are already gaining profit (4.66 billion euros). I am glad that, albeit a little, but the economic growth thanks to exports is preserved. Thus, the growth is + 1.36%

What about the hardware?

The situation here is a little more complicated. But, fortunately, the dynamics are positive! 

Despite a strong decline of -8.7%, employment rose by 2.4% in the first 6 months of 2021. Thus, of course, the decline in activity is noticeable. But more jobs will help manufacturers get out of the crisis faster. 

Taking into account the increase in export deliveries, suppliers and equipment manufacturers in the second half of 2021 will finally come out on top.

What's next?

The situation in Italy is indicative, as mentioned above, for most of the European Mediterranean coast. Of course, there are differences, because in all countries the pandemic proceeded differently. Some have more losses, others less.

Despite this, in the example of Italy, we can observe strong growth and resistance to external economic difficulties. Now it remains to believe in the best - we hope that the pandemic, if not over, then at least will not hit the economy and our favorite sport - yachting with such force!

21.10.2021