On June 11, over 200 people attended the Cluster Yachting Monaco’s 10th anniversary celebration, including HSH Prince Albert II, President of the Yacht Club de Monaco, who congratulated members for the work they do to promote the Monegasque yachting sector. “This initiative has become a reality. You are ambassadors of the yachting industry in the Principality. We want it to be as sustainable as possible over time but to also have an environmental purpose,” said the Sovereign.

“In ten years we have achieved many milestones, highlighting the strategic aspect of yachting in Monaco’s economy,” commented YCM General Secretary Bernard d’Alessandri, Founder & President of the Cluster Yachting Monaco, alongside Vice-Presidents Espen Oeino and Edouard Mousny, Treasurer Laurent Certaldi and the whole industry. A platform for federating the sector and fostering dialogue with decision-makers, the Cluster is one of the first in the world to focus on yachting and has 90 company members.

United around common goals
Since it was set up, the Cluster Yachting Monaco has played a vital role as a unifier and intermediary in this industry. By bringing together the different players from brokers to yacht designers, shipyards to equipment suppliers and many other professions, it has generated a unique synergy to drive innovation and sustainable growth in this largely unknown sector.

Cluster Yachting Monaco currently represents 411 specialist companies in Monaco, generating 1,429 jobs on land for a turnover topping €567.1 million. Its success is due to ten years of collective mobilization that goes beyond the purely business aspect. Indeed today “it has become the representative of the Monegasque yachting industry on the international stage, including at the most prestigious boat shows in the world, such as those in Dubai, Palm Beach, Fort Lauderdale, Palma and Monaco,” says Bernard d’Alessandri. Cluster Yachting Monaco has become a model example, followed beyond the Principality’s borders, as this competitiveness cluster has inspired and federated yachting stakeholders to work towards common objectives.

A structure to better communicate
Six working groups were established at the start to progress several areas of interest to the industry such as: Compliance-KYC, Brainstorming Destination Monaco, Spring and Winter Pop up by Cluster ‘‘Yachting Monaco’’, International promotion, Partnerships and Sustainability, the energy transition.
Ongoing efforts have helped structure and consolidate its ambitions through action. “Monaco today has established itself as THE reference for the yachting industry,” says Peter Lürssen from the eponymous shipyard for whom the Cluster “must keep going on this path of excellence and continue to inspire us to build a future for sustainable yachting”. As a federation, the Cluster will continue to play its role as a chosen intermediary, facilitating exchanges, partnerships and ambitious projects, an objective based on a robust quality network and unique growth opportunities.

Togetherness and pragmatism for the future
“Despite the successes, we are aware that there is a long way to go. Many challenges remain if yachting is to become an exemplary sector in terms of economic performance, technological innovation and environmental responsibility,” stresses Bernard d’Alessandri. Continuing efforts to boost training of talented youngsters, to further improve infrastructure, and promote sustainable practices even more than we do now, are the missions Cluster Yachting Members have taken on. All are keen to build a more sustainable future in accordance with the ambitions of the collective ‘Monaco, Capital of Advanced Yachting’ approach. It is with this in mind that so many stakeholders in the sector will be coming to encourage innovation among the younger generation during the 11th Monaco Energy Boat Challenge, July 1-6, 2024.

Cluster “Yachting Monaco” Revenue:

• 567 Million in 2022
• 3%: of the Principality’s total turnover
• 411 Businesses based in the Principality
• 1429 Onshore jobs, representing 2.4% of the Monegasque workforce