Italian boating sector posts €8.6bn turnover, revealed at Genoa Boat Show
The Italian boating industry has reported an all-time high turnover of €8.6bn in 2024, according to figures presented at the Boating Economic Forecast conference, held during the 65th Genoa International Boat Show yesterday (17 September 2025).
The results, published in the annual Nautica in Cifre – LOG report, confirm Italy’s continued global leadership in boatbuilding and exports.
Piero Formenti, president of the Italian Marine Industry Association, stated that turnover grew by 3.2 per cent year-on-year, underlining the industry’s stability after four years of post-pandemic growth where revenues doubled.
Formenti also acknowledged that high-end yachts and the superyacht sector remain the driving force, while turnover in the small boat segment fell around 10 per cent. He explains: “The challenges facing this segment derive from a combination of factors, including interference in several markets from high levels of stocks, intensifying geopolitical tensions, contracting consumer confidence and a national regulatory regime that is still too stifled by red tape.”
According to Stefano Pagani Isnardi, head of the Association’s Research Department, global headwinds and uncertainties over US tariffs could influence a market-wide slowdown. But explains: “Businesses, however, also expect to see a recovery as early as 2026/2027. And the first signs of this reversal could already be visible in the performance of our Genoa International Boat Show, where innovative designs and a strong focus on new market demands and trends could trigger a renewal of boat owners’ confidence in the sector.”
Of the €8.6bn total turnover, €2.55bn (29.7 per cent) came from domestic demand and €6.05bn (70.3 per cent) can be attributed to foreign markets. Exports accounted for 78 per cent of production (valued at €5.9bn) and domestic production generated €7.55bn overall.
The report also outlined that employment in the sector grew by 2.6 per cent, with the industry’s GDP contribution rising to €7.4bn – 34 per cent of national GDP.
Boatbuilding led sector performance in 2024, with 89 per cent of Italian production for international markets. Italy also maintained its position as the world’s top exporter of recreational and sports boats, up 7.5 per cent compared to 2023. Exports of recreational and sports boats show long-term growth, with a 405.8 per cent increase over the past 24 years.
The US remains a key market, especially for boats under 24 metres, though tariff-related uncertainty has softened orders. Marco Fortis, director and vice chair of Fondazione Edison, comments on the challenges with the US: “This reinforces a clear need to diversify outlet markets and enhance the role of trade events as platforms to strengthen business development through international partnerships.”
Download the full Nautic in Cifre – LOG report here.
