Hong Kong aims for share of HK$350 billion yacht industry as travel scheme launches

Hong Kong aims to capture a portion of the global yacht industry, valued at HK$350 billion (US$44.6 billion) by 2032, with the launch of the Southbound Yacht Travel Scheme. The scheme, part of the government's broader plan to develop Hong Kong's yacht economy, allows mainland Chinese vessels to register through the Marine Department's Electronic Business System for sailing in Hong Kong waters.

As of the scheme's launch, 23 individuals or groups had registered. The scheme complements Hong Kong's first five-year plan and the latest policy address, which emphasize the development of leisure consumption. Deputy Financial Secretary Michael Wong Wai-lun highlighted the global yacht market's growth, noting that Hong Kong can become a significant participant in the market.

Meanwhile, Secretary for Transport and Logistics Mable Chan announced coordination between the Marine Department and local training institutions to offer online courses for overseas captains. The Lantau Yacht Club, managed by HKR International, welcomed the scheme, offering special rates for berths and packages that include hotel accommodation and golf sessions.

Five yachts registered on the first day, signaling a positive response. Hong Kong's water supply and charging facilities are adequate to handle the scheme's initial demand, but more facilities and yacht clubs will be required for long-term growth. The city's stunning islands, such as Tai O, Repulse Bay, Tai Tam Bay, Stanley Bay, and Three Fathoms Cove in Sai Kung, are designed to attract yacht tourists, who can enjoy island-hopping during the day and urban dining and shopping at night.

The government also plans to develop "one-day tour" services and chauffeur-driven cars with professional guides, with the Hong Kong Tourism Board promoting these offerings to maximize economic benefits.