New figures released by Superyacht UK (www.superyachtuk.com) (at the Monaco Yacht Show) show that Britain’s super-yacht industry recorded its seventh year of consecutive growth in 2018/2019.

The industry generated revenues of £660 million — an increase of 7.1% on the previous year.

The findings also highlight the sector’s contribution to the UK economy, with Britain’s 300 superyacht businesses accounting for £308 million in Gross Value Added (GVA) for the UK, a 7% increase from the previous year.

Furthermore, 66% of UK super-yacht revenue is derived from exports; the USA (41%) and the euro-zone (13%) together account for over half of the UK export market (the US export market has grown substantially in recent years, from 34% of the UK export market in 2018 to 41% in 2019).

Other growth regions include emerging markets in South East Asia and the Middle East, where British boatbuilders’ strong presence at major regional shows has increased sales.

Many of the biggest manufacturers have also focused their efforts on expanding dealer networks across the region, resulting in strong sales figures.

The super-yacht industry supported 5,155 (full-time equivalent) jobs in 2018/19, a 1% increase in 12 months.

Over 60% of its revenue is derived from the UK’s manufacturing and refit shipyards (a 12% increase on last year), and 70% of jobs in the industry are in manufacturing (new-build and refit manufacturing recruitment grew 10.1% last year).