Hainan issues plan for yacht industry development

In order to build Hainan into an international tourism consumption center and promote the high-quality development of its yacht industry, the Department of Transportation of Hainan Province recently issued a plan for the development of its yacht industry during the 14th Five-Year Plan period (2021-25).

Hainan has unique resources and policy advantages for yacht industry development. In the future, Hainan is expected to become a new center for yacht industry development in the Asia-Pacific region, propelled by the Hainan Free Trade Port policy on the agglomeration of yacht industry elements in Hainan.

The plan proposes that Hainan's yacht industry chain system will be basically formed by 2025, with internationally renowned yacht brands gradually settling in Hainan and the leading enterprises in the yacht industry taking shapes. In addition, yacht consumption will become a new growth point for urban consumption and the yacht industry will become a leading industry in the construction of the Hainan FTP.

By 2025, the number of berths in Hainan's yacht marina is expected to exceed 3,394, of which the total number of public yacht marina berths will exceed 1,508. The number of registered yachts on the island will exceed 2,446, while the total annual number of yacht tourists will reach 1.36 million. The province's yacht industry scale will exceed 10 billion yuan ($1.5 billion), while the number of yacht companies will exceed 1,580 and the number of employees in the yacht industry chain will reach 20,000.

The plan foresees that Hainan will become a world-renowned yacht tourism consumption destination by 2035, while a high-level yacht industry reform, development, and innovation pilot area with strong international influence will be built in an all-round way.

Hainan will optimize the layout of the yacht industry, as well as build the overall spatial layout of the yacht industry with Haikou and Sanya as the focus, Sanya Central Business District and other key parks of Hainan Free Trade Port as the core, and other cities and counties as supplements. On the basis of yacht sales and consumption, service industries, such as yacht events, exhibitions, finance and insurance, as well as education and training, will also be developed.