On a recent weekend, the members-only Lantau Yacht Club in Hong Kong hosted a high-profile boat show, with Rolls-Royce limousines, luxury Jacob & Co timepieces, drones and live music all part of the package to tempt well-heeled guests.
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The privately owned yacht club, in Lantau’s Island’s resort-like Discovery Bay neighbourhood, was a pioneer in reconfiguring operations to target high-end superyachts in 2020 and has 148 wet berths and associated facilities.
Franklin Mak, executive vice-president of hospitality at HKR International, the developer behind the club, estimated that one large visiting yacht could generate a daily six-figure sum in economic activity through spending by guests and crew on shore.
“Actually, for one [large] boat, there is an average of tens of thousands of dollars, over HK$100,000, in business effect per day,” Mak said. “The numbers are impressive.”
It is not just private operators that are eyeing the financial benefits of the yacht economy – potentially worth billions of dollars annually – the government is also aiming to go full steam ahead with an ambitious plan to catapult Hong Kong into the “yacht club of Asia”.
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But challenges remain in public access, facilities, skilled workforce shortages and bureaucratic coordination. With industry players calling for a fundamental policy shift to fully unlock Hong Kong’s yacht tourism potential and create a seamless experience that rivals established Asian hubs, how can the city set a course for success?
City leader John Lee Ka-chiu made waves recently by unveiling some yacht tourism measures during his latest policy blueprint to capitalise on Hong Kong’s natural assets of 1,180km (733.2 miles) of coastline and 263 islands.