Hong Kong has long been a city of ambition, a harbor of trade and finance where global capital flows freely. But amid skyscrapers and shipping lanes lies an underexplored treasure — its waters. With over 1,180 kilometers of coastline and a scattering of islands, Hong Kong is perfectly positioned to become a hub for high-end yachting — an industry where leisure meets serious economic potential.
Yacht tourism is not about frivolous indulgence; it is high-value, precision-targeted commerce. Ultra-high-net-worth individuals who own or charter super-yachts spend lavishly, not only on berths, fuel, and maintenance, but also on services that ripple across finance, law, insurance, and events. Industry analysts estimate that the global superyacht market will double from $21.6 billion in 2025 to $45.2 billion by 2032, with particularly strong growth expected in Asia-Pacific. In short, the yachts come with a long chain of wallets attached.
Even the most extravagant vessels illustrate the scale of opportunity. Take Jeff Bezos’ 127-meter superyacht: Annual maintenance reportedly costs $25 million, covering 36 crew members, fuel, insurance, berthing, security, and upkeep. And that’s before a single meal is served. Multiply that across a growing number of visiting yachts, and the potential economic spillover — from insurance premiums to waterfront hospitality — is enormous.
Hong Kong has already begun to make waves. The Hong Kong Special Administrative Region government’s 2024 Policy Address spotlighted yacht tourism, and infrastructure expansion is underway. New berths are planned in Aberdeen, the former South Lamma Quarry, Hung Hom, and the Airport City waterfront, significantly expanding the city’s yacht docking capacity. Complementary facilities, from hotels to water-based leisure amenities, signal a vision that integrates yachting into the city’s broader tourism ecosystem.
The tide is rising, and it is not patient. Hong Kong can either watch neighboring cities sail ahead or hoist its sails, leveraging its harbor, expertise, and ambition to make yacht tourism a flagship sector for the 21st century. With thoughtful policy, targeted infrastructure, and a pinch of ingenuity, Hong Kong’s waters can become the premier destination for superyachts in Asia — and a powerful engine for economic growth
Yet infrastructure is only one side of the coin. Visiting yachts currently navigate a maze of agencies — immigration, customs, the marine department, and the health department. Captains must appear in person within tight windows, a process that could be simplified. The new initiative proposed in the recently released 2025 Policy Address — enhancing the Electronic Business System to allow one-stop, pre-submission of arrival information from visiting yachts for preliminary vetting by relevant departments — hopefully will be the solution.
Insurance and safety also matter. While Hong Kong’s current maritime regulations set a modest threshold for third-party insurance, adjusting minimum coverage for high-value vessels would better protect owners and incentivize a robust domestic insurance market. Encouraging diversified maritime insurance products supports local financial services while safeguarding high-end assets — no small consideration when some yachts are worth hundreds of millions of dollars.
Infrastructure, of course, extends beyond berths. Superyachts require refueling, battery charging, water replenishment, and specialized maintenance facilities. A proposal, in the 2025 Policy Address, to develop the yacht bay at Airport City to include berths that can accommodate superyachts over 80 meters in length, is a good move. But a further step could be considered: A dedicated maintenance hub near Airport City — Lung Kwu Tan, for example — could create skilled jobs, support local industry, and attract vessels requiring regular upkeep. Coupled with world-class docking and leisure facilities, Hong Kong could host major sailing events and international regattas, generating tourism revenue and global visibility.
Regional cooperation adds another layer. Hong Kong’s waters naturally connect to ports on the Chinese mainland, and yacht visitors often want multistop itineraries. Implementing a “co-location” system, allowing yachts to clear both Hong Kong and mainland immigration at designated ports, would facilitate seamless travel across the Guangdong-Hong Kong-Macao Greater Bay Area. The 2025 Policy Address proposal of promoting the systemic development of the Guangdong-Hong Kong-Macao individual travel program for yachts will hopefully include such a measure. The city could even entice yachts from the northern part of the mainland to come south, offering high-end services, trading opportunities, and maintenance expertise that complement mainland capabilities.
And here’s where the fun meets the finances: Each visiting superyacht does more than float — it unleashes a chain reaction of spending. From bespoke catering to crew services, legal counsel to insurance premiums, the economic multiplier is astonishing. Hosting larger vessels with upgraded facilities and streamlined administration transforms a niche hobby into a meaningful economic driver, generating tourism, investment, and jobs.
Hong Kong’s historic edge — its deep, sheltered Victoria Harbour — remains unmatched in the region. Combine that with a sophisticated legal framework and global connectivity, and the city has everything it needs to compete in the growing Asia-Pacific yacht market. Policies that streamline customs, increase berthing capacity, and enhance regional integration could turn this latent potential into tangible returns.
In the end, yachts are more than vessels — they are floating symbols of opportunity. Whether it’s a 127-meter superyacht cutting through the harbor or a weekend cruiser hopping between islands, these visitors bring wealth, jobs, and global attention. The challenge for Hong Kong is clear: convert natural assets and strategic location into a full-fledged yacht economy, integrating leisure, commerce, and regional collaboration.
The tide is rising, and it is not patient. Hong Kong can either watch neighboring cities sail ahead or hoist its sails, leveraging its harbor, expertise, and ambition to make yacht tourism a flagship sector for the 21st century. With thoughtful policy, targeted infrastructure, and a pinch of ingenuity, Hong Kong’s waters can become the premier destination for superyachts in Asia — and a powerful engine for economic growth.
The author is chairman of the Asia MarTech Society and sits on the advisory boards of several professional organizations, including two universities.
The views do not necessarily reflect those of China Daily.
