Whatever the Italian election outcome 'the only way is up' for superyacht industry
Although the Italian election failed to a definitive result Paolo Vitelli's election to parliament has bolstered a feeling that the country's superyacht industry will have a greater say on the national stage.…
An inconclusive Italian general election result has already pushed up the cost of government borrowing, after Pier Luigi Bersani's Democratic Party failed to secure a majority in the upper house, leaving the possibility of a centrist coalition with Silvio Berlusconi’s People of Freedom (PdL) party a very real, although undesirable, possibility.
Add to that the likelihood that popular comedian-turned-politician Beppe Grillo’s Five-Star Movement (M5S) party could hold the ace card in any coalition scenario, queers the pitch still further.
Alessandro Mazzoni, director of Italian fiscal services provider, SOS Yachting, believes that, regardless of the eventual outcome, the result for the Italian superyacht industry will be positive. “We have had no political direction for the last year”, Mazzoni said. “Whatever is coming will be good [for the superyacht industry]. The yachting industry has been destroyed; it will probably never return to the glory days - banks aren’t lending, people don’t have the money anymore and I don’t see a recovery for at least another six or seven years – so the only way is up.”
One man who did secure his passage into parliament, standing for one of eight seats in the Piedmont region, was Paolo Vitelli, CEO of Italy’s largest yachting conglomerate, the Azimut Benetti Group. Vitelli has been elected as parliamentary deputy, having stood for outgoing technocrat, Mario Monti’s party. And while Vitelli performed well in his region’s election, his party posted surprisingly poor results overall.
Vincenzo Poerio, the group’s managing director, expressed his delight at the election of Vitelli, which he feels could serve the interests of the Italian superyacht industry well in a global context. “Life is changing in Italy - we have a politician who will take care of yachting - Paolo Vitelli has been elected. I do hope we have a voice in the Italian parliament.”
The Yachting After Sales and Refit Exhibition, in association with the Italian Superyacht Forum and newly-launched Superyacht Captains' Forum will be held in Viareggio from 10-12 April. For further details please contact Georgina Lucey.
Add to that the likelihood that popular comedian-turned-politician Beppe Grillo’s Five-Star Movement (M5S) party could hold the ace card in any coalition scenario, queers the pitch still further.
Alessandro Mazzoni, director of Italian fiscal services provider, SOS Yachting, believes that, regardless of the eventual outcome, the result for the Italian superyacht industry will be positive. “We have had no political direction for the last year”, Mazzoni said. “Whatever is coming will be good [for the superyacht industry]. The yachting industry has been destroyed; it will probably never return to the glory days - banks aren’t lending, people don’t have the money anymore and I don’t see a recovery for at least another six or seven years – so the only way is up.”
Silvio Berlusconi has defied international expectations to keep himself in contention for any eventual coalition.
Mazzoni cited the recent example of fuel duty checks in Sanremo as the technocratic government’s propensity to ‘tax at all costs’, something he believes a truly political government would address pragmatically. With the formation of a government therefore, Mazzoni believes the superyacht industry can work in harmony with the tourism ministry to reach an agreeable arrangement to protect the future of Italian chartering.One man who did secure his passage into parliament, standing for one of eight seats in the Piedmont region, was Paolo Vitelli, CEO of Italy’s largest yachting conglomerate, the Azimut Benetti Group. Vitelli has been elected as parliamentary deputy, having stood for outgoing technocrat, Mario Monti’s party. And while Vitelli performed well in his region’s election, his party posted surprisingly poor results overall.
The future of the Italian superyacht industry has been the subject of discussion at Azimut Benetti's ongoing YachtMaster event.
Vitelli spoke to the Italian media upon the confirmation of his election: “In Piedmont the results are above the national average - 10 per cent - and this is a good sign, as it shows the people of Piedmont understand what is the right way forward. There is of course, the need to analyse the global picture more in depth, as it's very worrying; Italy can’t afford a period of instability.”Vincenzo Poerio, the group’s managing director, expressed his delight at the election of Vitelli, which he feels could serve the interests of the Italian superyacht industry well in a global context. “Life is changing in Italy - we have a politician who will take care of yachting - Paolo Vitelli has been elected. I do hope we have a voice in the Italian parliament.”
Vincenzo Poerio addressed YachtMaster attendees, pictured here.
Mazzoni also believes that Vitelli’s presence in parliament will help to bolster the profile of the superyacht industry on the national agenda. “I believe Paolo could be a big voice in parliament, but again, this depends on whether the government goes left or right.”The Yachting After Sales and Refit Exhibition, in association with the Italian Superyacht Forum and newly-launched Superyacht Captains' Forum will be held in Viareggio from 10-12 April. For further details please contact Georgina Lucey.
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Azimut / Benetti (Lusben Shipyard)
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