The Superyacht Charter Decree was approved by Cabinet yesterday. In making the announcement at a press conference yesterday, the Attorney-General Aiyaz Sayed-Khaiyum said: “This is quite an important decision made by Cabinet. Those of you who know about the tourism sector, the super yacht industry is the top end of the tourism sector. “It is hardly ever, if ever affected by recessions.
Last year during the recession, the top 3 to 4 per cent of the superyachting sector was not affected at all.” He said in the Southern Pacific super yachts only went to Tahiti and up to the east coast of Australia. “So in between there is no opportunity for super yachts to be cruising; to be chartering in the Southern Pacific waters.”More