Globally there are approximately 4750 superyachts in the market and the sector is growing at 10% per annum. On average a superyacht value is 20m euros and 10% of this value is spent to operate and maintain the boat per annum. The huge growth area for BlueCape will be on the servicing and supply side to the Superyachts visiting the Cape.
More and more Expedition style Superyachts are being built as the owners are looking for unique experiences well off the beaten track. These owners are bored with the traditional cruising areas, the vessels are bigger, stronger, more advanced and safer with crews trained to extremely high levels. Cape Town is strategically located as the staging post to the cruising grounds of the Indian Ocean and East Africa when heading east or the Atlantic Ocean and West Africa when heading west.
A further niche segment is Polar tourism with many of these Expedition style Superyachts heading south to explore the South Pole region in our summer. Mark Brekstein of UWC has done research into polar tourism and indications are that there is great potential. This is a relatively new focus area with high growth and job creation potential.
Repairs, refits, restocking, advanced crew training and general tourism with the ultra high net worth owners. Currently revenue is estimated at R150m per annum with up to 20-23 Superyacht visits per year. Crucial to this growth is the continued commitment and support from the V&A Waterfront to invest in facilities designed solely to support the Superyacht sector.