The first week of 2023 has seen a jump in superyachts visiting the Maldives. According to tracking data compiled by Bloomberg and reported on 6 January 2023, “the Maldives saw 18 superyachts in early January, compared with only one two months ago.” The report indicates a growing number of the global fleet cruising in the Maldives, with the island chain currently seeing more yachts than Hong Kong and Singapore combined, and slightly outpacing Thailand. With the increase of super yachts, the government has prepared and amended the current cruising regulations. What are the pros and cons of having many super yachts choosing the destination?

PUBLISHED August 05, 2023

Amir Mansoor
Carpediem Maldives
It will surely have a positive impact as super yachts are handled and operated by leading international operators, which will boost the economy via bookings in resorts and hotels. Additionally, handling supplies, payments and taxes in a formal transparent way will further support the boost. However, there’s also the chance it may create a loophole for sole agents to swindle tax payment according to amended regulations.
Need to get them to go to remote areas away from busy Ari and Male’ atolls. They need to be tracked by Customs similar to how Customs tracks liquor! All jokes aside, having Super Yachts is a good thing, they book rooms in resorts & hotels, hire locals for spear fishing guides, buy local produce, handling agents, pay taxes etc.
Travelers by Superyachts are the most affluent cruise lovers in the world. These travelers are from the niche and the high-end luxury market and are passionate about moving around the globe at their convenience and freedom. Their spending power is strong, and they are the least affected by economic crunches and unforeseen crisis. Moreover, the enormous publicity that the Maldives will receive as an ideal destination for Superyachts will attract more celebrities and the most high-end luxury travelers from various parts of the globe. It’s a fantastic market that we should explore further and find more impressive ways to extend the best services to the charterers, operators, owners, local yacht agents and especially guests arriving by these yachts. In order for us to continue enjoying the benefits of this industry and to prevent or minimize the adverse effects, a good SOP is recommended.
Pros - Destination will be advertised as a high-end luxury market to the world. - Revenue will be generated to the economy, not to an individual. Eg: Revenue to the government as fees, taxes and permits (MOT). - Ports authority as entry fees, port dues and anchorage fees and light dues. - Local suppliers: local groceries, flower shops, workshops, fuel suppliers taxes etc. - Day workers: Create job opportunities in these vessels arriving to maldives. - Local boating industry will try to compete and up scale the standards and new builds similar to the superyacht designs. Cons 1 Congestion in the port and in tourist attractions. 2. Environmental effects: pollution, wastewater and sewage disposal to the sea and increased anchor drops will damage the reefs. 3. Garbage disposal will add to waste management costs.