THE SECRET ECONOMY OF SUPERYACHTS

The America’s Cup floweth over with wealth, and much of it can be found on superyachts. Where the Aulde Mug goes, huge, gleaming boats are not far behind — some worth more than $100 million, every one a Vitamin B booster shot for our economy. For the summer 2020–2021 season, more than 150 superyachts applied to enter New Zealand for the America’s Cup and its glamour events.

And then Covid burst the bubble. Superyachts cancelled their bookings, either unable or unwilling to leave their home ports. Others wanted to shelter here from cyclones or Covid, but were stymied by New Zealand’s tightened border controls. This is a major blow not only to our marine industry, which superyachts often