Yachting sector generates around $200M annually in Antigua and Barbuda: Reports
Friday, 22nd March 2024
He noted that there are many marinas in Antigua including the Antigua Yacht Club, the Nelson’s Dockyard Marina, the Catamaran Marina and Boathouse and the Falmouth Harbour Marina where yachts dock and enjoy various services.
In addition to this, the sources have revealed that the numbers for the economic effects of these marinas are based on a 1999 report from the Eastern Caribbean Central Bank which also includes a 2% increase annually.
The Falmouth Harbour Marina has spent over $10 million on fuel from the West Indies Oil Company in 2023 which was solely for the yachts and it also paid around $1.5 million to APUA for utility services.
Other than these expenses, yachting sector also spend huge amount of money on local services such as supermarkets. CEO Robert Reis said that all this expenditure contributes highly to the local economy and makes the marina industry an important part of Antigua’s tourism industry.While citing an example, he said, “For example, we are getting a lot more mage-yachts, and these carry a large crew to take care of the owners and the vessels themselves.”
He added that these numbers average in several cases between 30 and 40 individuals who only eat at restaurants when they are in port and also rent two or three motor vehicles, which gives a boost to the local economy.Latest
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