The Italian pleasure boat industry is the largest in the European Union and the second largest worldwide after the United States, with an estimated value of about $2 billion.

The industry accounts for almost half of the European nautical market’s turnover.
The Italian nautical industry produces boats with the highest average prices in the world. It is specialized on the production of so-called “super yachts” (boats with at least 80 feet) and maintains about 37% of this world market. The Italian pleasure boat market is continually growing; for the past ten years the average annual growth rate has been about 10%. The overall contribution of the maritime sector to the Italian Economy has been growing year after year. Its overall contribution (direct and indirect) to the Italian GDP is estimated around 6,642 million euro (about $8,261 million).

This market sector can count on 104 ports, marinas and small harbors offering over 130,000 moorings along Italy’s 8,000 miles of waterways. The Minister of Transport and Navigation, as well as Italian Port Authorities, believe that there are about 450,000 pleasure craft in Italy.

In 2004 there was a total of 71.014 crafts registered, including sailboats, motorboats and ships, all over 24 feet (7.5 meters) (registration is not required for shorter vessels). It is estimated that every year about 4% of all registered craft become obsolete and need to be replaced.

In 2004 alone 3,440 crafts were registered, a 57% increase from the previous year. There are several factors that allowed such an increase. The implementation of “boater friendly” legislation reduced fees for boat ownership and cut a great number of bureaucratic requirements. Moreover, the leasing formula, the so-called “Italian leasing”, boosted the internal market. In 2004 the number of new leasing contracts grew by 54.3% over the previous year.

The Italian Government, through its investment agency, Italia Navigando, is promoting new and expanding existing marinas, creating new berths and moorings. In 2004, 3,029 new moorings were created, a 2.4% increase from the previous year. Sardinia alone experienced an 18% growth in the number of its berths, while Sicily and Puglia had a 7% increase each. Within the next few years, the government plans to more than double the existing number of boat berths in Southern Italy, especially in Campania and Sardinia. Projects such as these create new opportunities in the pleasure boat market.

Imports from the U.S. represent a consistent share of the overall imports of pleasure boats, especially outboard motorboats. The U.S. share of the pleasure boat market in Italy will probably grow further due to the competitive dollar. According to the leading Italian financial newspaper, Il Sole 24 Ore, the cost of an American boat in Italy in 2004 dropped by some 20% in two years, thanks to the competitive dollar alone...(continues)

Please note:

This Industry Sector Profile is also part of the more comprehensive
ITALY COUNTRY COMMERCIAL GUIDE 2006.