Superyacht magical jobs elixir

Cairns Post: paywalled from Chris Calcino

The city is now poised for a billionaire tourist boom expected to create 4,500 jobs and add an annual $580 million to the economy by 2021.

That’s an extraordinary jobs growth number for this industry in FTE (Full Time Equivalent) relative to the size of the Cairns SA4 labour force. Where does it come from?

Advance Cairns: Superyacht Chartering in Australia

In Tropical North Queensland (TNQ) the industry currently injects $324.1 million into the regional economy and supports 2664 full-time equivalent jobs, which represents 18% of the 14,500 jobs supported by the superyacht industry Australia-wide .
Following an appropriate change in policy, by 2021 the TNQ regional contribution is expected to grow by 78% to $577.7 million per annum, leading to an additional 4504 jobs.

Superyacht Group: Australia now open for superyacht charters

Today we welcomed the passing of the “Special Recreational Vessels Bill 2019” in the senate.
Our Great Barrier Reef region will now be poised to benefit from increased visitation from foreign-owned superyachts and their Ultra-High-Net-Worth guests resulting in an estimated additional $577m to gross regional product, leading to an extra 4500 jobs over the next two years in our region.

Slightly different from our Queensland Government: Queensland Superyacht Strategy

In the Cairns and Whitsunday regions, the superyacht industry is expected to contribute almost $580 million and 4500 FTE jobs, up from $324.1 million and 2664 FTE jobs respectively over the same period

However a subtle difference between this document and the PR release from Cameron Dick:

“In Cairns and Whitsundays, meanwhile, superyachts are anticipated to bring in $580 million and create 4500 full-time equivalent jobs over this same period, exciting growth projections we’re eager to maximise.”

What does the report they are referencing commissioned by the Superyacht group themselves from AEC in Brisbane actually say:

AEC Cairns Superyachts

Source: Economic Impact of the Superyacht Sector on the Australian Economy



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