La Belle Classe Superyachts Business Symposium, yachting at the heart of Monaco’s challenges

An insightful debate among the world’s top players in the yachting industry to discuss the importance and economic impact of yachting worldwide on the South French Riviera and the Principality of Monaco. “La Belle Classe Superyachts Business Symposium,” the annual event organized by the Yacht Club de Monaco and now in its 16th edition, concluded in recent days: organized in the form of a dinner-debate under the aegis of the Monaco, Capital of Advanced Yachting project “La Belle Classe Superyachts Business Symposium” represents a major event for boating on the French and Monegasque coasts, holding in the heart of the Région Sud which, from its privileged location thanks to its attractive marinas and world-renowned events, attracts more than half of the world’s fleet of yachts over 30 meters every year, which has moreover increased sixfold in just 35 years.

“With over 2,000 yachts in the Western Mediterranean in the golden triangle between Italy, Spain and the French Riviera, of the 5,500 boats in the world that are more than 30m, the Région Sud and Principality are major players– stated Bernard d’Alessandri,YCM General Secretary and President of the Cluster Yachting Monaco –This symposium is a unique opportunity to bring together owners and professionals to analyse current trends and issues while exploring new opportunities and challenges for the sector“.

Mainly positioned in maintenance and refit in the west (La Ciotat, La Seyne-sur-Mer, Marseille), the regional industry in the east is focused on commercial and tourism activities (Hyères, Saint-Tropez, Cannes, Nice). Between ports, shipyards, subcontractors and brokers, Région Sud offers a 360oC service to yachting. Blessed with a world-renowned area for sailing, combined with geopolitical stability and security, région Sud is a major hub for the technical and tourism aspects of yachting in France.

The economic study of yachting in the Région Sud

According to a study by Earthcase initiated by the CRT (Regional Tourism Committee), the yachting sector’s economic impact is significant at €1.1 billion generating 10,200 jobs for région Sud. More specifically, the technical ecosystem contributes €438 million and 3,600 jobs, with the tourist element generating €663 million and employing 6,600 people.

“It was essential to carry out economic studies to obtain stable and reliable data to implement a proper policy based on concrete facts – said François de Canson, President of the CRT (Regional Tourism Committee) – The aim is to be in a position to make recommendations to the industry while respecting the economic-environmental balance”.

“La Belle Classe Superyachts Business Symposium” was also an opportunity for Pascal Ferry and Benjamin Cauquil, Deputy Director and Research Manager, respectively, at IMSEE (Monaco’s national statistics office) to give a preview of the latest figures for the maritime and yachting economy in the Principality. It’s the first time such a detailed study has been carried out by the Monegasque institute and which takes into account only activities directly related to the maritime and yachting economy.

According to the study, yachting is a thriving sector with revenue in 2022 topping €567.1 million or 3% of the Principality’s total revenue excluding financial and insurance activities. The yachting sector numbers 411 establishments or 3.7% of total businesses in the Principality, and 1,429 jobs, representing 2.4% of Monaco’s workforce. Yacht brokers are the leading provider of jobs in yachting in the Principality (431 or 30.1%). Only establishments whose actual activity is directly related to pleasure boats were included. Specialised design activities alone represent over €20 million of yachting revenue in 2022.

The full study is on the IMSEE website.

The environment at the center of the “La Belle Classe Superyachts Business Symposium”

Région Sud is also making all the necessary investments to support the boating sector’s technological and energy transitions. The challenges are environmental (coastline to be protected, preservation of marine and land environments, improving quality of coastal life); and economic in the technical and tourist fields to focus even more on innovation, excellence, an exemplary environmental approach, berth capacity and social acceptance.

“We must embody the yachting of tomorrow, as it is in the Western Mediterranean where everything happens, is invented and implemented. This is the mission we set ourselves in southern France with President Renaud Muselier – concluded François de Canson – It’s by combining forces with the Principality that we will rise to these challenges, while ensuring we maintain our attractiveness and continue to develop this sector in our region”.

The next yachting events in Monaco

Following its La Belle Classe Superyachts Business Symposium, YCM looks ahead to the 7th Monaco Ocean Week (18-22 March 2024) organised on the initiative of the Prince Albert II of Monaco Foundation alongside the Monaco Oceanographic Institute, Monaco Scientific Centre and Yacht Club de Monaco. As every year, YCM is in charge of the day dedicated to yachting, Thursday 21st March.

A fascinating programme awaits with an Environmental Symposium focused on Exploration, attended by the highly respected The Explorers Club, followed by the YCM Explorer Awards by La Belle Classe Superyachts. The 2 nd Monaco Smart Yacht Rendezvous will also be taking place, organised by Monacobased experts, M3 (Monaco Marina Management), in collaboration with the Prince Albert II of Monaco Foundation. An event that gathers innovation experts, architects and yachting enthusiasts from all over the world. The meeting provides a unique platform to promote collaboration and discovery of intelligent and sustainable technologies that are shaping yachting’s future