Yacht industry welcomes govt plans to transform HK into Asia's yachting hub

The yacht industry applauded the government's plan to establish Hong Kong as a yachting hub in Asia, noting that it could generate more jobs and opportunities for the city. 

The comments came in the recent discussion between Stephen Wong Yuen-shan, head of the Chief Executive's Policy Unit, and the sector stakeholders.

Chief Executive John Lee Ka-chiu has outlined plans to provide 600 additional yacht berths and develop a yacht bay at Airport City in his latest policy address. 

Wong highlighted Hong Kong's pivotal role in connecting regional yacht communities and its potential as a gateway to the Greater Bay Area. He pointed out that the Asia-Pacific Superyacht Association has organized various events to attract important business travelers. 

Lawrence Chow, chairman of the Hong Kong Boating Industry Association, welcomed the plan to allow visiting yachts to anchor freely without prior booking in designated government waters. 

He noted that new regulations can make it more convenient for incoming boats, while also streamlining the customs, immigration, and quarantine facilities.

He stated that an increase in yachts would lead to more job opportunities for captains and crew, expanding the maintenance sector while also promoting the mega event industry. 

"When we have, for example, the Hong Kong Marina there, it could possibly host some international events in the heart of the city," he said. "That really puts Hong Kong on the map."

Suzy Rayment, executive director of the Asia-Pacific Superyacht Association, emphasized the need to attract more high-spending visitors, noting that the superyacht industry can create more jobs and services for the city. 

"For example, you need to have berthing, fuelling and provisioning, and so Hong Kong as a whole benefits from these yachts coming in, because they spend a lot of money," she said.

She added that many owners manage their vessels through family offices and often own private jets or helicopters. 

Rayment also described the city as an exceptional hub, boasting a well-established boating community that includes over 70 superyacht owners. 

"And if we add in the Greater Bay Area, that is going to be quite amazing," she said, adding that the Association has collaborated with neighboring countries such as Singapore, Malaysia, Thailand and Japan.