Superyachts to bring super gains for Australian tourism and marine industries

The Turnbull Government today introduced a Bill that will increase superyacht charters in Australian waters.

Australia has some of the most spectacular coastal and aquatic attractions in the world and approximately 70 per cent of all international visitors report enjoying coastal experiences as part of their trip.

The 2018 Commonwealth Games on the Gold Coast gives the global superyachting community yet another reason to visit our shores.

Superyachts are highly lucrative within the tourism sector. It is estimated they currently generate around $1.96 billion annually and with these proposed reforms the industry estimates it could contribute an additional $1.12 billion to the Australian economy by 2021.

If passed, the amendment to the Coastal Trading (Revitalising Australian Shipping) Act 2012 will remove the prohibitive costs related to the importation of a vessel and reduce the required number of chartered voyages from five to one, delivering significant economic benefits for the tourism and marine sectors.

Recently, the Turnbull Government announced 21 new anchorage points with the Great Barrier Reef and a new vessel boarding station on the Gold Coast to facilitate growth in this important tourism sector.

The Turnbull Government recognises the marine sector is an important part of our tourism offering and a strong marine sector goes hand in hand with a strong Australian economy.

As Australia welcomes a record number of international visitors who are staying longer and spending more, the Coalition will continue to provide opportunities for further growth in the tourism industry.