A five-year strategy to position Queensland as a superyacht hub will attract investment, expand infrastructure and create jobs.

That was the message at the launch of the Queensland Superyacht Strategy at the Australian Superyacht, Marine Export and Commercial Marine Conference at Sanctuary Cove on 22 May.

Speaking at the launch, Superyacht Australia CEO MaryAnne Edwards welcomed the new strategy and support for the industry.

‘Queensland is a key destination for superyachts and, as a result, the supply chain that supports these vessels contributes significantly to the Queensland economy, especially regional Queensland and we see continuous growth in the sector,’ Ms Edwards said.

‘A superyacht strategy for Queensland is critical to harness the opportunities, ensure the infrastructure is in place to support growth, and market the capability of the industry alongside the tourism experience of visiting the many signature experiences Queensland has to offer.’

Also speaking at the launch was Minister for State Development, Manufacturing, Infrastructure and Planning Cameron Dick, who said the Strategy aimed to increase the number of superyachts coming to Queensland.

‘Superyacht activity in south east Queensland brought $630 million into the state’s economy and supported 4,500 jobs in 2016, and is expected to expand to $1.1 billion and nearly 8,000 jobs by 2021,’ Mr Dick said.

‘Going by the rule of thumb that superyacht charters spend about 10% of the value of the vessel on running costs, plus the cost of maintenance, provisioning and follow-on tourism, we can readily see the benefits this work will bring to Queensland.

‘Our strategy … aims to attract superyachts to more places along our 13,000km coastline and create business and jobs opportunities in regional Queensland, building on the success of Cairns, the Whitsundays and the Gold Coast, and investigating additional locations such as Bowen, Wide Bay and Moreton Bay.

‘We are positioning Queensland as a key superyacht hub in the Asia Pacific by 2023, with 10% more of the global market.’

The government has also invested $45,000 to keep the Australian Superyacht, Marine Export and Commercial Marine Conference in Queensland for the next three years.

Implementation of the Queensland Superyacht Strategy will be led by the Member for Cairns, Michael Healy.

Attracting investment to Queensland is one of the priorities of the Queensland Trade and Investment Strategy 2017–2022.