The Balearic nautical industry was the focal point of a recent institutional visit by the Vice President of the Government and Minister of Energy Transition and Productive Sectors Juan Perdro Illanes, the General Director of Industrial Policy Toni Morro and the Director of the Institute of Business Innovation Mariona Luis Tomás.

The government officials were received by senior representatives of STP Shipyard Palma and shown the extensive activities carried out at the facilities and the many companies that operate within the shipyard and surrounding area. The economic impact of the nautical sector was also communicated.

The Balearic region is a key superyacht hub that hosts more than 500 nautical companies, providing direct employment to almost 3,000 people and generating a turnover of 561 million euros. During the visit, the officials were interested to find out more about a sector that adds so much value to the local economy but is largely unknown by the general public.

“The open shipyard model offered by STP promotes the repair industry by distributing wealth and providing exponential growth,” comments José María Campuzano, CEO of STP Shipyard Palma. “With this dynamic model, seasonality decreases, in addition to promoting the specialisation and professionalism of the sector, providing continuous improvement and quality of service.”

Communication and collaboration between the local superyacht sector and those that have the power to regulate and invest is essential to ensuring the successful growth of the industry. The upcoming Balearic Superyacht Forum will act as the perfect platform for industry representatives and local authorities to start a dialogue about the future of the Balearics as a key superyacht hub.

The Balearic Superyacht Forum is being held on Tuesday 28th April 2020, prior to the Palma Superyacht Show, providing the perfect start to the week and extending the window of opportunity to meet with those attending the show. Throughout the forum, delegates will consider how we can invest, upgrade and adapt its infrastructure and service proposition for the future.

To find out more and register for one of the VIP places at the event, please click here.

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