of the sector. Along with commissioning several market intelligence reports, the association has made strides in how the industry measures its global impact, culminating in two ground-breaking studies: the Economic Impact Study and the Compensated Gross Tonnage Study.
The first determined that the industry had an annual economic impact of €11.9 billion while the second offered scientific proof that the construction of a superyacht involved significantly more labour than other passenger ships – something they were previously classified as and compared to. “Together, these studies were used to show that we, as SYBAss, represent a significant industry. Superyachts may be for a privileged few, but their impact is far greater,” says Hooning.
“It’s only appropriate that the industry is supported by a well-functioning association.” It’s clear that, 14 years on, SYBAss has earned itself a solid position within the superyacht community as the industry representative for the wider world.