RDA Gold Coast: Championing our marine industry

24 September 2024

The superyacht industry is booming, driven by ultra-high-net-worth individuals with a net worth of $30 million USD or more. In 2022, 1,204 superyachts were under construction, a 46.6% increase from the previous year. By 2025, the global fleet is expected to exceed 6,600 vessels, with 40 kilometres of yachts set to be built by 2026.

This growth presents a huge opportunity for Queensland’s maritime refit and maintenance sector. Superyacht owners often seek maintenance making Queensland a prime destination. With its strong marine industry capability Queensland is well-positioned to benefit from this luxury market, driving economic growth and creating jobs.

Around two-thirds of domestic superyacht owners spend over 10% of their vessel's value on annual maintenance. With nearly half of the global fleet now over 15 years old, demand for regular upkeep is increasing. Over the next five years, nearly $800 million in private investment in maritime infrastructure is expected to support local maintenance and refit services for superyachts.

The Queensland Superyacht Strategy aims to grow the state's share of the Australian superyacht market to 90% by 2028 and establish it as a leading hub in the Asia-Pacific. This expansion is projected to create thousands of highly skilled jobs and contribute hundreds of millions to Queensland’s economy.

Around two-thirds of domestic superyacht owners spend over 10% of their vessel's value on annual maintenance. With nearly half of the global fleet now over 15 years old, demand for regular upkeep is increasing. Over the next five years, nearly $800 million in private investment in maritime infrastructure is expected to support local maintenance and refit services for superyachts.

The Queensland Superyacht Strategy aims to grow the state's share of the Australian superyacht market to 90% by 2028 and establish it as a leading hub in the Asia-Pacific. This expansion is projected to create thousands of highly skilled jobs and contribute hundreds of millions to Queensland’s economy.

RDA Gold Coast, a champion of our booming hi-tech marine sector, was a proud sponsor of the 2024 Gold Coast Marine Jobs & Careers Expo on Saturday 7 September. 

This free-to-attend event connected marine industry hopefuls with a unique opportunity to explore key waterfront sites within the Coomera Marine Precinct, including The Boat Works, Gold Coast City Marina & Shipyard and Riviera Australia. A massive success, the expo featured:

• A record 1200 attendees, with some travelling from as far afield as Melbourne, Sydney, Newcastle, Ballina, Toowoomba, Airlie Beach and Bundaberg
• A live jobs board with 102 vacant positions advertised by 34 exhibitors
• Technical tours of three shipyard locations to gain firsthand insights into the types of roles required to design, build, service and operate an extensive variety of vessels
• Presentations and panels on apprenticeships and pathway programs, Australian Defence Force & Border Force recruitment, superyacht careers, advanced manufacturing, women in marine and pathways to a maritime career

The event was organised and hosted by the Australian International Marine Export Group, the Boating Industry Association and Marine Jobs.