Australia’s domestic superyacht industry is booming, doubling in size. Vessels have been attracted to Australia and its buoyant domestic charter market. With borders closed, many superyachts have moved to Australia to offer a luxury alternative to overseas travel. This increase in charter activity in Australian waters provides a huge economic lift for the country.
Seemingly this increase in vessel activity has a direct correlation to the new charter legislation passed by the federal government in December 2019. The passing of the Special Recreation Vessels (SRV) Act of 2019, coupled with the closure of international borders have contributed to accelerated growth of the industry.
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