Qld tourism: Law change needed to lure superyachts

Queensland has only a small slice of this multibillion-dollar global industry, but a simple law change could see our ships come in, literally.

A PUSH to lure the world’s grandest superyachts to Australia could deliver a billion-dollar windfall to the Queensland economy.

Queensland is the epicentre of Australia’s superyacht industry, which makes up only a fraction of a global juggernaut worth an estimated $38 billion a year.

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Just 74 foreign-owned superyachts visited Australia last year, a number dwarfed by some of our neighbouring nations, and industry leaders blame high taxes imposed on the vessels wishing to charter voyages here for the gulf.

More than 650 superyachts visited the South Pacific and South-East Asia last year, with the region’s most prosperous nation taking a mere 11 per cent of the action.

Already, Auckland’s harbour has received 120 super-yacht bookings for the America’s Cup in 2021, almost double the entire total to visit Australia for the whole of last year, while superyachts visiting Fiji also have increased tenfold in the past decade.

Gold Coast City Marina & Shipyard CEO Trenton Gay among the superyachts. Picture: Richard Gosling

Industry leaders want changes to the Coastal Trading Act passed as soon as possible, in order to cash in on a looming golden run of regional events over the next two years from the rugby World Cup and Olympics in Japan and the America’s Cup.

Superyacht Australia CEO David Good said relaxing the restrictions was the No.1 priority for the industry in this country.

“It’s the only thing holding us back,” he said.

Gold Coast City Marina & Shipyard CEO Trenton Gay pioneered the Glitter Strip’s Superyacht Rendezvous three years ago in a bid to put the region on the map for international owners.

He said changing the laws surrounding foreign-owned charters could deliver a tourism bonanza.

“These yachts have guests but also 20-odd crew, and when they’re on dry land they have cash to spend,” he said.

“If the laws are more inviting we will be in a perfect position to capitalise but at the moment we’re missing out.”

Regional Development Minister Michael McCormack said the Federal Government hoped to soon deliver a solution, with a less hostile Senate following last month’s election.

“Maritime tourism is one of the fastest-growing sectors of the tourism industry, and the Government is keen to unlock this potential,” he said.

“The Government will continue to pursue these amendments and work with the industry on reforms to allow access for superyachts and facilitate the flow-on effects for Australian service industries.”