Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum visit the Italy Pavilion at Dubai International Boat Show

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum visit the Italy Pavilion at Dubai International Boat Show

taly ranked the world’s #1 producer of superyachts with a turnover of Euro 6 billion, exporting Euro 67.5  million worth of nautical products to the UAE last year

Dubai, UAE; 9th March 2022: The Italian Trade Agency, in collaboration with the Embassy of Italy in the UAE, the Consulate General in Dubai and the Italian Marine Industry Association (UCINA), is hosting 45 Italian companies at the upcoming Dubai International Boat Show taking place from 9 to 13 March 2022, at the event’s new venue, the luxurious Dubai Harbour. With three times the number of Italian companies participating compared to last edition (2019), it’s a strong indicator of how the country’s sector has remained stable during the uncertainties around the pandemic. Italian expertise on offer during the event will include harbor and boat designers and boat equipment.

Italy is currently ranked #1 global manufacturer for superyachts, fulfilling 50% of orders placed worldwide; and for large RIBs (rigid inflatable boats) and for marine equipment. With 24,000 direct employees in the Italian leisure marine industry (180,000 considering the whole supply chain), the sector is one of Italy’s largest employers with a highly-skilled workforce.

Last year, the Italian marine industry grew by 23.8% (±5%) with a total turnover of Euro 6 billion. This followed five years of consecutive double-digit growth from 2015 to 2020. Current predictions indicate that 2022 will see this growth trajectory continuing, with Italy remaining in its ranking as first in Europe and second in the world, behind only the United States.

Mirroring this growth, exports to the UAE of Italian motorised and sailing yachts and boats, water skiing, surfing and water sports equipment, along with propellers, increased by +465% to Euro 67.5 million, compared to 2020.

Amedeo Scarpa, Italian Trade Commissioner to the UAE, said “Italian excellence in the marine industry comes from a number of different avenues; experience and knowledge in building boats, a capable workforce, innovation across all elements, sophisticated customisation, superb design and interior style. To ensure further development, Italy is focusing on investment in innovation and sustainability in the sector. The industry’s production value is forecast to grow at a CAGR of 4.2% until 2025.

“The Italian shipbuilding and nautical industry encapsulates the Made In Italy quality that is renowned globally, resulting in 86% of the national boat manufacturing turnover being exported, with Euro 67.5 million worth of products coming directing to the UAE last year.

“With the new Dubai Harbour, along with Dubai’s world-class facilities and sophisticated infrastructure, the emirate is fast becoming a superyacht capital. With Italy’s global reputation and capacity for growth in the sector thanks to increasing investment and innovation, it’s an exciting time for Italy and Dubai to be working so closely together. Also in the Nautical sector Italy is simply extraordinary, BeIT”

With the support of its international offices network, ITA has invited a delegation of 18 buyers from Saudi Arabia, Egypt, Israel, India, Philippines, Turkey, Vietnam and the USA, to attend the Dubai Boat Show and meet with the Italian exhibitors.

To discuss about the latest trends in the sector, on March 11th the Italian Trade Agency will gather local and Italian experts on stage at the Italy Pavilion at Expo 2020 for the Innovation Talk “Between innovation and beauty: the trends in the nautical sector”.

For the latest news and updates, please follow @ITAdubai on Twitter, @ITAdubai on Instagram, ITA – Dubai Office on LinkedIn, and Italian Trade Agency on YouTube.

-ENDS-

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s