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Come let there be Yachts! : exploring the yachting industry in St. Maarten

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Come let there be Yachts! : exploring the yachting industry in St. Maarten

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Samenvatting

This report explores the yachting sector of SXM, which to this day does not receive enough government attention and is not given the recognition that it deserves as a lucrative sector of the economy (Johnson, 2010). Therefore, the decision to research this topic came as a result of the Tourism Bureau's search for further economically successful strains of tourism. Also the fact that SXM does not keep the information surrounding the sector up-dated, a detailed investigation of the sector was needed for the country's records.
The first chapter of this report is responsible for giving a full country overview of the yachting industry's presence within SXM's tourist sector. In order to break down the need for further investigation into the yachting sector and its contribution to the country' GDP. Additionally, this chapter showcases the bottlenecks associated with this report, one being a strong absence of pertinent people in the sector to converse with. As well as outline the central and sub-questions of this research, thus setting the scope, context and focus of this report.
Following in chapter two, the reader will find the "Situation Analysis of the Yachting Sector"; where the entire climate of the yachting industry is assessed to clearly depict the economic contribution of the sector. Hence, the marinas available, the types and sizes of the yachts/cruisers frequenting the country and the charges they pay for their stay and utilised services on SXM have been addressed in this section of the report. Furthermore, this section contains the SWOT analysis of the yachting sector in SXM. In order to make clear that the yachting sector is a heavy contributor to the GDP and tourist industry of SXM, while at the same time depicting the internal and external climate evolving around the sector easier for the reader of this report to understand.
Chapter three, concerns the methodology. This section states the research methods selected for this research to have been realised and draws reference to the drawbacks in collecting the data. Moreover, this section explains that both interviews and an online questionnaire were essential to gather data. While explaining that those working within the sector tend to find themselves in a constant situations where the stimulation of further yachting business of paramount and of primary concern. Hence leading to their absence to take part in interviews and resulting in the generation of a questionnaire.
Next chapter four of the report concerns the economic impacts of the yachting sector on SXM's GDP, employment rate, public sector revenues and taxation environment. Based on this chapter it is apparent that SXM's sector holds more economic responsibility than it is given credit for and represents 16.7% of the country's GDP and employs a larger percentage of SXM's labourers than originally expected. Therefore, the research results of this chapter prove that it is essential to stimulate and nourish this sector, as it is extremely viable in monetary terms.
Chapter five is the "Competitive Analysis" of the report and like its names suggests offers comparative data among those in the yachting sector. However, as SXM is a Caribbean country it has only been compared to those Caribbean countries/islands that proclaim and have a proven lucrative yachting industry. These countries/islands are: French SXM, St. Baths, BVI, and Antigua & Barbuda. However, despite the business practises, costs/fees and marina styles being very similar, the research showed that Dutch SXM is the market leader where yachting tourism is concerned.
Come Let There Be Yachts Sharon Fleming
The Hague School of European Studies Page 9
Chapter six highlights the government's involvement in the sector and the policies that circulate around the yachting sector. Proving that to this point the government lacks the necessary cooperation and communication with the sector, thus hampering its continued success greatly. Also, displaying those government policies in the sector severely impairs its smooth running and is causing quite a large amount of annoyance and irritation to the yachters/cruisers personally.
Following is chapter seven, which explains the dismal environment that surrounds the yachting industry. This chapter demonstrates that the yachting industry has had severe environmental impacts on the country, to the point that some water bodies are at the point where they may never be able to be purified/fixed. Therefore, this chapter clearly indicates that despite the economic benefits of the industry, it has had very strong negative impacts for SXM on an environmental and social basis.
Next chapter eight addresses the major findings of the report. These major findings in a short demonstrate that: government needs to be more proactive in the yachting sector, statistical information is necessary to be recorded, the environmental damage needs to tackled in order to attain cleaner water bodies, government policy needed to curb malpractices in the sector, competition is growing and SXM is in danger of losing market leadership.
These findings then lead the report to chapters nine and ten, which represent the conclusion and recommendation chapters respectively. Chapter nine successfully answers the sub-questions posed in chapter one of this report. Thus giving clarity to the situation surrounding the yachting sector, which based on the findings of this report, is positive in an economic perspective, with the possibility of economic decline and negative in a governmental, social and environmental context. Thus chapter ten solves the central question and states nine recommendations to circumvent economic disaster in monetary terms, while providing ideas to restructure/reorganise the most negatively impacted areas spurred on by the sector.

Toon meer
OrganisatieDe Haagse Hogeschool
AfdelingESC Europese Studies / European Studies
PartnersSt. Maarten Tourist Bureau
Jaar2010
TypeBachelor
TaalEngels

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