Yachting and nautical tourism play a crucial role in European economies for several reasons:
Significant economic contribution: The nautical tourism sector generates substantial revenue and economic activity across Europe. Supported by over 6,000 marinas and 32,000 related companies, the industry creates an estimated €28 billion in annual revenue. This substantial economic output contributes significantly to coastal and maritime regions’ prosperity.
Job creation and employment: The sector is a major employer, providing around 280,000 jobs across Europe. Marinas are substantial job creators in coastal communities. They generate around 70,000 jobs and up to €4 billion in annual turnover across Europe. These employment opportunities are particularly valuable for coastal communities and regions with limited economic alternatives, helping to sustain local populations and reduce unemployment.
Support for small and medium-sized enterprises (SMEs): The yachting and nautical tourism industry is greatly composed of SMEs, with 32,000 related companies operating in the sector. This entrepreneurial ecosystem fosters innovation, competition, and economic resilience in coastal areas.
Rebecca Whitlocke from Antibes Yachting on stage in Croatia discussing the impact of yachting and nautical tourism
Boost to peripheral and coastal economies: Nautical tourism provides essential economic opportunities for peripheral and coastal communities, as well as along inland waterways. It helps diversify local economies, reducing their dependence on traditional industries and creating new revenue streams.
Tourism: The yachting and nautical tourism sector enhances Europe’s appeal as a tourism destination, both within Europe and for international visitors. With 36 million boaters and about 6 million boats in European waters, the industry attracts a significant number of tourists, contributing to the broader tourism economy and promoting cultural exchange. As well, over half of the EU bed capacity is located in regions with a sea border, highlighting the importance of coastal tourism infrastructure like marinas and coastal hotel development. Marinas create a multiplier effect in local economies. They attract visitors who spend money on various goods and services, benefiting local businesses such as restaurants, shops, and tour operators.
These factors demonstrate the vital importance of yachting and nautical tourism to European economies, highlighting its role in job creation, economic growth, and regional development.
