Yachting: when recreational sport becomes an industry

In his 2025 policy address, Chief Executive (CE) John Lee has turned a recreational/sporting activity into an industry to strengthen Hong Kong’s role as a key player in Asia’s development.
“With 1 180 kilometres of shoreline and 263 islands, Hong Kong is well-positioned to become a yacht hub in Asia. We will enhance amenities for the yacht industry and promote prime yacht tourism,” he declared.

This direction deserves strong public support. A well‑developed yacht economy is not a niche concern for a small number of owners, but rather a high value‑added ecosystem that creates jobs in tourism, hospitality, marine services, finance, insurance, legal, training and events. When a large yacht berths in a city, it brings not only crew salaries and maintenance spending, but also hotel nights, restaurant business, luxury retail and demand for professional services. Industry estimates suggest a single large visiting yacht can generate over HK$100,000 per day in local economic activity through berthing, fuelling, provisioning, dining, retail and entertainment.

Hong Kong is well poised to achieve the CE’s goal. Already there are 12,323 pleasure boats in Hong Kong moored in nine marinas or clubs. Another four marinas, offering about 1000 berths, are in the planning stage.

The largest of these new marinas is at the new airport extension known as Skytopia which will offer 500 berths followed by one at Aberdeen, Hung Hom and Lamma with each providing about 200 berths.

But berths alone will not make Hong Kong a true yacht hub. Owners and captains make decisions based on the whole experience: ease of entry and clearance procedures, quality of marinas and repair services, shore‑side facilities for guests, and the overall attractiveness of the destination. If we provide the berths but not the supporting ecosystem, yachts will still choose to base themselves in other Asian ports and only visit Hong Kong briefly, or not at all.
Hong Kong also has the second highest number of superyacht ownership after Australia in the Asia-Pacific region. Australia accounts for 146 superyachts while Hong Kong has 92. Superyachts, super floating hotels exceeding 30 metres in length, are big business for the rich and famous, such as movie star Jackie Chan’s 46 metre (150-foot) JinLong 4601. Currently up for sale in Aberdeen is the 30.23 metre (90.2 foot) Riva Yacht 102 Corsaro for Euro 11,000,000 (HK$100,855,000).

The industry is huge and worth billions. Besides the boats themselves, there is a multitude of ancillary services such as ship building and sail making, electrical and mechanical engineers, cleansing services to clear the hulls of barnacles, catering services to replenish the superyachts, chandlers, etc. The industry also provides for the welfare of hundreds of coxswains and boat boys, many of whom sleep on the boats to maintain the security of the vessels.

Hong Kong is the place where there could be plenty of buyers. According to the latest 2024 Billionaire Census report from Forbes, Hong Kong maintains its position as the second city in the world, after New York, with the highest number of billionaires housing 107 ultra-wealthy individuals.

Positioning itself on the world stage, Hong Kong will host its 26th International Boat Show in December at Marina Cove. It is Hong Kong’s most prestigious and longest serving platform for boat buyers and dealers in the Asia-Pacific Region.

To make the event the international showcase for the best and latest boats, the organisers have lined up a spectacular display of the world’s most famous brands. With boats from Italy, France, Britain, Poland, Finland, USA and China, as well as accessories, engines and equipment, water sports gear and wear etc., visitors will be able to view everything in boating in this four-day event.

As a marketplace for multi-million superyachts, racing yachts, plain sailing yachts and other boats, the government’s willingness to engage with industry stakeholders signals a growing recognition of the economic and tourism potential of Hong Kong’s maritime sector. Moving forward, policy reforms and infrastructure investments will determine the city’s role in the regional yachting market. If implemented successfully, these initiatives could make Hong Kong a premier superyacht hub in Asia.

The yacht market in the city is flourishing, driven by the region`s affluent population and a growing interest in recreational boating. Hong Kong`s strategic location as a maritime hub facilitates yacht manufacturing, sales, and services, making it a prominent player in the Asia-Pacific yacht market. The increasing popularity of luxury yachts and the rising number of boat enthusiasts are propelling demand in the sector. Additionally, the development of marina facilities and recreational areas is enhancing the overall yachting experience. As environmental sustainability becomes a key focus, manufacturers are exploring eco-friendly technologies and designs in yacht production, further shaping the market`s future.

Some worry that more marinas and yacht facilities in neighbouring Greater Bay Area (GBA) cities will draw business away from Hong Kong. However, with careful planning this relationship can be complementary.

Hong Kong can serve as the command-and-control centre – the place where yachts are owned, registered, financed, insured and managed – while GBA ports provide additional cruising grounds, home berths and repair yards. With streamlined cross‑boundary schemes, a yacht can be managed and serviced in Hong Kong while enjoying the full range of GBA destinations, from island anchorages to entertainment hubs.

The yacht market in Hong Kong is thriving, bolstered by the city’s status as a luxury lifestyle hub. The government’s efforts to promote maritime tourism and enhance marina facilities are pivotal in supporting this market. Policies aimed at attracting foreign investment in the leisure marine industry, alongside initiatives to boost local tourism, will contribute to the growth of yacht ownership and associated services in Hong Kong.

Mark Pinkstone

** 博客文章文責自負,不代表本公司立場 **

It is said that sport promotes a healthy body, a healthy mind…and a healthy economy. In Hong Kong’s case that is worth about HK$51 billion (US$6.5 billion), or 1.5 per cent of our $3.4 trillion (US$ 434.2 billion) gross domestic product.

On top of that, it provides for about 84,000 jobs, according to figures released by the Census and Statistics Department.

Already Hong Kong draws on a fine reputation for hosting international sporting events, such as the Rugby Sevens, ATP and WTA tennis championships, the LIV golf tournament, equestrian events, snooker championships to name just a few. Every month The Leisure and Cultural Services Department’s calendar is filled with sporting events, both local and international, to keep sporting facilities fully booked.

Due to its high class sports facilities, low tax regime, location as the center of Asia and lifestyle appeal, Hong Kong has attracted super stars like snooker champions Ronnie O’Sullivan, Judd Trump and Jimmy White to take up residence here under the government’s Quality Migrant Admission Scheme (QMAS). The Scheme is designed to attract highly skilled or talented persons to settle in Hong Kong to enhance the city's economic competitiveness. Applicants are not required to have secured an offer of local employment before applying for entry or being admitted to Hong Kong for settlement under the Scheme. Accordingly, the trend is continuing as high-profile figures continue to join the city's registry. More than 100 active and retired international athletes have relocated to Hong Kong under these programs in recent years, and officials continue to process applications from prominent global sports icons.

A number of sports events in Hong Kong have been given an “M” (for Mega) ranking by the Major Sports Events Committee for their ability to draw in large international followers, thus adding to the city’s tourism coffers. The ranking is for world-level events and goes with dollar-for-dollar matching grants from the government with funding based entirely on the event’s quality, media coverage and economic tourism potential.

Events which have received the “M” rating, and thus government financial support, includes the ATP and WTA tennis tournaments, rapid and blitz chess championships, international dragon boat races, volleyball nations league, the international invitation horse racing event, fencing world championships and, of course, the famed Rugby Sevens, Rugby Sevens which last year generated some HK$780 million (US $100 million) to the city’s economy.

All “M” events are a magnet for drawing foreign visitors to Hong Kong. For example, the Rugby Sevens earlier this year drew in about 150,000 foreign visitors and rising Filipina tennis star Alex Eala, who has taken the US open by storm, filled the 15,000 seat Wimbledon Centre Court with her fans, many of whom are expected to follow her to Hong Kong for the Prudential WTA Open in November.

Hong Kong’s HK$30 billion Kai Tak Sports Park with its 50,000-seat stadium drew 2.4 million spectators in its first year of operation. The main stadium is built to serve as a multi-purpose mega-venue. Overcoming Hong Kong's unpredictable summer weather it is equipped with a retractable roof and advanced climate control, to host premier sports tournaments alongside massive pop concerts.

Hong Kong’s role in the Greater Bay Area (GBA) provides an ideal opportunity for greater interplay between the nine cities in Guangdong and the Special Economic Zones of Hong Kong and Macao. Prime examples would be the 15th National Games and historic cross-border marathons and cycling races, where athletes seamlessly travel across Guangdong, Hong Kong, and Macao. The lead for cross-border sport is being taken by the Hong Kong Jockey Club, which has made major proposals in our first Five Year Plan for Economic and Social Development, by transforming the GBA into an international equestrian and equine sports hub.

The club envisions a seamless multi-destination racing tourism circuit that links its world-class facilities in Sha Tin and Happy Valley with the Conghua Racecourse in Guangzhou. To further solidify this ecosystem, the proposals suggest expanding Hong Kong's successful disease-free zone management and biosecurity protocols to other regions in the mainland, such as Xinjiang.

Under this equine hub framework, the club also advocates establishing a World Organization for Animal Health collaboration center in Hong Kong and advancing institutional connectivity by expanding the mutual recognition of veterinary qualifications across the border.

Both the Outline Development Plan for the Guangdong Hong Kong-Macao Greater Bay Area and the Culture and Tourism Development Plan for the Guangdong-Hong Kong Macao Greater Bay Area gives a fresh impetus to the development of the tourism industry within the GBA. With the platform of the Tourism Federation of Cities in the GBA, the Tourism Commission has been actively fostering co-operation with the tourism authorities of the Macao Special Administrative Region and the nine Chinese Mainland cities in the GBA in developing more “multi-destination” tourism products.

As the consultation scope of the Five-Year Plan has been wide to incorporate most of Hong Kong’s society, tourism leaders including event organizers, travel agents, hotels and airlines have been promoting an integrated culture-sports-tourism synergy as a total package in fostering tourism to Hong Kong.

By working together as an industry and with our neighbors, Hong Kong becomes an even more attractive sports destination offering packages for foreign visitors to stay longer in this Pearl of the Orient.