Handing Over Of The Yacht Economic Impact Study Report By Market Development Facility To The Vanuatu Government

The Vanuatu Tourism Office with financial and technical support from Market Development Facility completed the first independent economic impact study to understand the economic value of international yachting into Vanuatu. The study focuses on over 300 international yachts that arrived in Vanuatu in 2023. This study came about in light of the Vanuatu Government’s ambition to diversify tourism development and grow the cruise tourism development in Vanuatu.

In 2022, the Government through the coordination efforts of the Vanuatu Tourism Office and the Department of Tourism identified that a priority area to broaden the development of tourism in Vanuatu was to venture in the growth of the expedition cruise and yachting tourism market. This area has been identified already under the National Cruise Tourism Development Strategy developed in 2021. The cruise and yachting market typically spend more time in a country and as a result have a higher yield and value to the type of tourism we want to grow and achieve for the destination.

The former Minister of Trade and Tourism, Hon. Bob Loughman Weibur accepted the report from Mr. Mathison Oliver, the Team Leader of Market Development Facility on behalf of the Government at the Mangoes Resort on Friday 20th September, thanking MDF and its Partners for the work undertaken through the research leading to the delivery of the report to guide policy and activity implementation.

“This economic impact study states that 16 superyachts visited Vanuatu last year, each spending around USD100,000 while in-country. So, growing superyacht charters in Vanuatu through marketing, and improved regulations and infrastructure could bring enormous economic benefits.” Mr. Mathison Oliver, the team leader of MDF stated.

“Expanding the tourism economy to the islands is one of the great benefits that the yacht tourism industry brings. Money, they spend while in Vanuatu goes directly to communities throughout the country and this strengthens the value chain of tourism. The study identifies opportunities to grow yachting arrivals to Vanuatu, through improved marketing to key source markets, including Australia and New Zealand, improving infrastructure to increase cyclone resilience, and streamlining regulations to encourage arrivals and investment. Australia was proud to support the project through the MDF leading to the production of this innovative report” Says, Mrs. Emily Fisher, the Deputy High Commissioner of Australia to Vanuatu who was a guest speaker during the report launch.

The Vanuatu Government acknowledges and appreciates the financial and technical support from the Market Development Facility with the financial support from the Australian and New Zealand government, to deliver this study to strengthen Vanuatu’s tourism landscape focusing on other market opportunities that is needed for the recovery of the country’s tourism industry and in diversifying the tourism development opportunities in the sector.