The Baltic states of Lithuania, Latvia and Estonia are expanding their involvement in the marine recreation sector, seeking to capitalize on the growing interest of Asian investors in yachting
The authorities of the Estonian capital Tallinn have announced the planned construction of the country's largest yacht marina based on the existing Haven Kakumae.
Haven Kakumae is currently designed for approximately 300 pleasure boats.
In the near future, it was planned to start work on a significant expansion of this marina with partial attraction of foreign investors. These plans were somewhat disrupted by COVID-19.
The Baltic states - Latvia, Lithuania and Estonia - are looking to expand their participation in the seaside leisure sector, capitalizing on the growing interest, mainly among Asian investors, in supporting the development of yacht infrastructure.
The authorities of Tallinn, the capital of Estonia, have announced the construction of what is likely the largest yacht marina in the country, known as Haven Kakumae. The marina is currently designed for approximately 300 pleasure boats. However, it is likely that it could be significantly expanded in the short term as the country seeks to stimulate the development of new infrastructure. Foreign investors were supposed to provide some of the funding, but COVID-19 forced the plans to be temporarily suspended.
In the largest Baltic-Latvian resort city, Jurmala, it was planned to build a yacht club of billionaires announced by Shanghai for an investment of $ 25 million. At the moment, this project is also on hold.
Although, informed sources claim that the Latvian authorities are negotiating with various investors, both foreign and local, on the allocation of funds for the development of domestic yacht infrastructure.
Lithuania, with its 62-mile coastline, is also in excellent conditions for the development of yachting. Take, for example, the favorite place of yachtsmen (including foreign ones) - the Curonian Spit, which is 51 km long.
According to an official representative of the Lithuanian government, various places are being considered that are attractive for the development of yacht infrastructure there - Nida, Sventoji, Minge, Curonian Lagoon and Palanga.
Of course, the port of Klaipeda will remain the center for the development of Lithuanian sailing. It is planned to build a new yacht infrastructure here in the future.
In addition to Asian investors, regional governments are also pinning their hopes on financial assistance from the EU countries.
The increased interest of the Baltic countries in the development of the maritime sector is not least dictated by the announced plans of St. Petersburg (Russia) to organize 10 thousand leases of pleasure yachts over the next few years.
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