THE Reef Marina has wholly endorsed the Palaszczuk Government’s decision to help fund an Economic Impact Study (EIS) into the super yacht industry in Queensland.

“By supporting the growth and development of the super yacht industry, we are aiming to give marine businesses around the Queensland coastline new contract opportunities to provide food and fueling services, bunkering, maintenance, private jet services and crew pit stops,” the Minister for State Development Dr Lynham said.

In an interview with Newsport, Reef Marina general manager Robert Cruz, said he welcomed the study.

“As far as I know, this study is the first of its kind and I cannot see why we will not be involved. In fact I believe we are well positioned to be a part of it,” said Cruz.

“I just cannot see us being left off the map. What we offer here is unique, we’re at the foot of the Great Barrier Reef and based on our size (in terms of accommodating super yachts), we punch above our weight.

“Currently, we have five super yachts moored here which are more than 25 metres, and I am confident these large vessels will continue to visit Port Douglas,” he said.

Cruz concedes that Cairns continues to be the major port of entry for super yachts and has all the infrastructure and supply chain to service these vessels at the highest level.

“They have a deeper port to accommodate larger vessels and they have a heavy marine industry. But we still need to align ourselves with Cairns, and vice versa. This is not a one-way street,” he said.

State Treasurer Curtis said over the next two months 14 super yachts are expected into Cairns alone.

“This is an invaluable contribution to our regional economies, with these cashed-up international travellers looking to enjoy the variety of high quality tourism experiences that Queensland offers right along our coastline.”

Meanwhile, Australian International Marine Export Group Chief executive Maryanne Edwards, said Australia is currently attracting less than two per cent of the global super yacht fleet so the opportunity to increase the revenue and jobs in this sector is huge.

“Undertaking an economic analysis of the state’s super yacht industry will provide the Palaszczuk Government with a clearer understanding of the sector’s economic contribution and identify the value-add directly attributable to the operation of super yachts.

“The study will also identify future potential economic opportunities provided by the growing global super yacht market and inform government policy to support these opportunities.”