Yachting
Evans a former investment banker in New York and Los Angeles happens to be the current president of the Grenada Chamber of Commerce goes on to say “I think it’s extremely important to review the yachting figures that we have put together to quantify the impact on our economy. I would say it’s approaching the total value of Grenada’s exported goods. The yachting sector is bringing in as much in foreign exchange to the economy as manufacturing and agricultural exports combined.” He adds further “I think that the local businesses are realizing the significance of the impact of the yachting sector and its growing. The spend of ‘Yachties‘ is significant. In Prickly Bay at any given point there could be a hundred boats. One study says that 50% of what these people spend on is outside of the marine sector; and these people spend thousands. Often times this contributes to the airlift. ‘Yachties‘ differ from regular tourists. They’re here longer some for months. They do a lot of their own cooking and provisioning. Fish Friday is a perfect example as a large percentage of yachts people attend that event weekly.” Evans continues, “Yachting is an industry that builds on itself. It likes more mass, more people, and more boats. Because with more boats it makes it feasible to offer more services and to bring in more trained technicians and to invest in training your people locally. When you get that, you get people that come here because of the higher skill levels in services. A good example is the Grenada Sailing Festival. It has moved to new big marina at Port Louis. Everyone likes the fact that we can all be on the same docks in one place. The interaction and the atmosphere improves and as a result people leave and say what a wonderful regatta it is; so next year your going to have more boats, and more boats spots for yachts hauling out between the 3 yards, 2 in Grenada and one in Carriacou. We already see Carriacou expanding with another full service marina development and the potential is certainly there for yachting to be one of the most vibrant industries in that economy. The Marine And Yachting Association of Grenada (MAYAG) recently published a report on the industry and estimates that as of 2009, the yachting sector generates over 500 jobs. Much of this growth is accredited to the Yachting Act of 2000 which effectively gave yacht duty free status. This has led to a dramatic improvement in the services available to support the sector. Yachts require a considerable amount of maintenance; money spent in Grenada to keep boats in good condition generates valuable foreign currency as well as sustaining skilled employment. Their figures conclude that during 1999-2009 Grenada has seen a 200% growth rate in slips available to yachts and other vessels and a ten fold increase in haul out facilities; which alone has added a approximately 150 job and at least $EC20 Million to the economy. MAYAG concludes that haul out facilities are a necessary and vital component of a viable yachting sector in Grenada. These facilities provide valuable ‘dry-dock’ services, where boats are put on land exposing their hulls to the air which
More boaters come and realize that we’ve got fantastic boat yards to get the work done
means more slips. More boaters come and realize that we’ve got fantastic boat yards to get the work done. I think Grenada is a long way from maxing out in the industry. The fact that Grenada has the hurricane summer storage business and has become the ultimate cruising destination I think that will lead to a really nice constant business and people will enjoy that. Presently Grenada can offer 475-500
SERVICE.
Spice Island Marine Services and Budget Marine are known for their reliable customer service and expertise. Whether you are interested in storing your boat or purchasing quality gear at low prices, this boatyard and chandlery have it all. Centrally located in Prickly Bay, Grenada, near many amenities, they will exceed your expectations. Contact them today to learn more.
www.spiceislandmarine.com 473.444.4342
www.budgetmarine.com 473.439.1983
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