International boat show anchors in Cape Town

STATEMENT BY THE CITY’S MAYORAL COMMITTEE MEMBER FOR ECONOMIC OPPORTUNITIES AND ASSET MANAGEMENT, ALDERMAN JAMES VOS.

I am delighted that Cape Town has the privilege of hosting the annual International Boat Show.

The show attracts approximately 100 exhibitors and close onto 10 000 visitors each year. In addition, more than 70 boats will be on display.

Cape Town is the second largest producer of recreational catamarans in the world. Each year up to 200 cruising yachts pass Cape Town from the Indian Ocean en-route to the Caribbean, a market waiting for investors.

Cape Town’s boat building industry is known globally for its world-class craftsmanship, innovative and custom-made designs.

The city exports 80% of products produced and attracts a positive trade balance of around US$73 million annually, or over R1 billion. Cape Town’s boatbuilding exports have grown by 20,54% annually year-on-year since 2014. (Source: Quantec, 2019)

The sector directly employs over 5 120 artisans, carpenters, engineers and nautical architects. Thousands more work in secondary industries providing materials and components to shipyards across Cape Town.

There are 40 plus shipyards, and Cape Town has boutique boat builders who can custom build your boat with world-class artisanal craftsmanship.

Cape Town is also home to South Africa’s only boatbuilding school, the False Bay College that sees approximately 60 graduates qualifying each year.

The Cape region is the largest marine manufacturing centre within South Africa, generating over R2,3 billion in export revenue during 2018. (Source: Quantec, 2019). The province is home to approximately 45% of boat builders. Ships, boats and floating structures were Cape Town’s 7th largest value export in 2018.

The industry is supported by the South African Boat Builders Export Council (SABBEX) that often assists with investment facilitation and industry research to identify opportunities for investment and growth.

Currently, SABBEX together with the City of Cape Town and the University of Cape Town are conducting a study about Cape Town’s ocean sports economy. SABBEX estimates the local ocean sports economy is worth about R1,2 billion per year.

Cape Town has a steady stream of young qualified artisans entering the boat building industry – a key strategic sector to the city’s economy that attracts a positive trade balance and creates thousands of jobs.

I am proud to build on our track record of being one of the top catamaran producing countries in the world. The City, through its Invest Cape Town initiative, will collaborate with partners from business formations, investment promotion agencies like Wesgro and sector support entities, and all spheres of government to expand the boat building footprint in Cape Town.