(MENAFN- Mid-East.Info) Dubai, UAE: The Italian boat and ship manufacturing sector is widely known abroad for its ability to combine the excellence of“Made in Italy” in the Italian mechanics, technology, design, furniture, and components. A representation of the Italian maritime sector, whose demand in the UAE has generated a turnover of 76 million Euros (November '22 – nautical accessories and components), is present at the Dubai International Boat Show (1-5 March, Dubai Harbour).
The Italy Pavilion organized by the Italian Trade Agency, the Governmental Agency that promotes“Made in Italy” across the world according to the guidelines of the Ministry of Foreign Affairs, along with The Italian Marine Industry Association (Confindustria Nautica), gathers 27 Italian companies specialized in the production of maritime accessories and components, a sector mainly represented by small and medium enterprises characterized by a high level of quality and technology.
According to the latest Deloitte's 'Boating Market Monitor' report the retail market for new boats continues to grow, demonstrating great resilience and dynamism. From 2014 to 2021, the global market value has grown at an average rate of +10%, reaching a total value of around 28 billion euros. 90% of the global new boat retail market is generated by powerboats and 10% by sailboats.
2021 was the year that registered the greatest growth for the Italian maritime sector, with a total turnover increasing from 4.6 billion in 2020 to 6.1 billion euros (+31%). A remarkable number that brings the sector's turnover to almost the same level as the record two-year period of 2007-2008. The exports of shipbuilding production reached an all-time high of 3.37 billion euros (March 2022).
One of the largest revenue sources of the Italian maritime industry are accessories and components that are in highly demanded globally for their excellent quality and technology. Italy is the world market leader in the components and accessories sector. In 2021 the total turnover reached a record of almost 1.2 billion euros, 50% generated from sales to foreign markets.
When it comes to boat exports, leisure and sporting boats is the category that recorded the highest growth: exports have risen from 850 million euros in 2000 to 3 billion euros in 2021, recording a growth of 2.1 billion euros in monetary value and 247.6% in percent. Non-European countries are confirmed as the main destination of the overseas sales, direct exports to non-EU markets are valued at 2.2 billion euros, corresponding to 74.6% of Italian exports in the sector (compared to 64.3% in 2020). The export of leisure and sporting boats to the UAE had a triple digit growth rising by 261.5% to 39.1 million euros in 2021 (10.8 million euros in 2020).
Italy ranks second in the global rank for export in the shipbuilding sector, with a share of 16% (value $ 3.5 billion). Confirming Italy's leadership in the yachts sector, the Global Order Book 2022, a special ranking drawn up annually by the Showboats International magazine, places the Italian industry at the top of the world for orders of maxi-yacht, with 19,158 meters overall commissioned and 523 yachts under construction.
Lorenzo Fanara, Ambassador of Italy to the UAE, said:“The staggering growth of the Italian boat and ship manufacturing sector recorded in recent years proves the excellence of Italian nautical technology and design. In the UAE, Italian nautical manufacturing is synonym with luxury, elegance and quality. Exports to the UAE of leisure and sporting boats recorded an incredible growth of 261.5% in 2021, confirming the growing trust placed in Italian companies and the appreciation for the timeless quality Italy offers.”
Amedeo Scarpa, Director of ITA office in the UAE said,“Italy is one main suppliers of ships and boats to the UAE ($39.1 million in 2021) and the export of nautical accessories, and components and boats to the UAE reached 76 million euros in November 2022, confirming this country as one of the main destination markets for the Italian manufactures.
The Dubai International Boat Show year after year reconfirms its role as an important promotional, networking and business matching platform for the nautical sector and in particular for the Italian companies. We are here to support the“Made in Italy” and with the slogan“Sustainability is SustainabITALY” this year we would like to bring the attention of the public and of the industry to one of the global hot topics: the respect of the environment at the different points of the life cycle of the marine products.”
About Italian Trade Agency – The Italian Trade Agency is the Government agency which promotes the globalization of Italian firms, under the aegis of the Ministry of Foreign Affairs. ITA helps to develop, facilitate and promote Italian economic and trade relations with foreign countries, focusing on the needs of SMEs, their associations and partnerships. ITA sustains Italian firms in their internationalization process, promoting the marketing of Italian goods and services as well as the image of“Made in Italy” products around the world, while facilitating outward Italian investments and encouraging FDI attraction into Italy. ITA provides information, support and consultancy services to Italian companies on foreign markets, in order to foster exports and economic cooperation in all sectors, with the objective of increasing the effectiveness of their presence on international markets. ITA works closely with the Italian Regions, the network of Italian Chambers of Commerce, business organizations and other public and private entities. ITA's headquarters are based in Rome and it works through a large network of offices around the world which are acknowledged as“Trade Promotion Offices” of the Embassies or Consulates of Italy.