Revenues from luxury yacht building exceed $1.4 billion

ANTALYA

Total revenues generated to date from luxury yacht building in the Antalya Free Zone have exceeded $1.4 billion.

In terms of luxury yacht and ship building, the Antalya Free Zone is the world’s third largest after Italy and the Netherlands. In 2021 alone, 30 yachts were launched, bringing in $125 million in revenues, while 510 super luxury vessels have been built by the companies operating within the zone to date.

“Yachts built here have been dispatched a number of countries, including the U.S., the Netherlands, Norway, Oman, Senegal and South Africa,” said Zeki Gürses, the general manager of the Antalya Free Zone Inc. (ASBAŞ).

Demand for maintaining services has also grown significantly over the years, he added.

Some 142 ships have been brought in for such work and maintaining services of 127 of those vessels have been completed, which generated $49 million in revenues, according to Gürses.

“The yacht building industry started to develop in the 2000s in the zone. There are presently some 50 companies operating in this fast-developing sector,” he said.

The Tuzla district in Istanbul and the Bodrum district in the province of Muğla on the Aegean coast are other important luxury yacht building centers in Turkey.

The Antalya Free Zone is one of the first two free trade zones founded based on Free Zone Law dated 1985. It is located on the route of the province of Antalya and the district of Kemer, adjacent to the Antalya Port.