Nestled within the scenic landscapes of Turkey’s southern province of Antalya, the free zone has established itself as a premier destination for luxury yacht manufacturing, boasting revenues totaling nearly $2 billion over a span of more than two decades.
According to Zeki Gürses, the general manager of Antalya Free Zone, a record-breaking 93 yachts were meticulously crafted and delivered to discerning owners last year alone. Within the free zone’s precincts, a network of 88 companies operates, with 50 dedicated to the art of yacht building.
The international appeal of yachts constructed in Antalya was underscored by their delivery to clients spanning across diverse nations including the United States, Russia, Israel, the Netherlands, and Ecuador. Additionally, 25 yachts sought maintenance services within the facilities last year, further enhancing the zone’s reputation for quality craftsmanship and customer service.
Since the inception of the free zone up until the end of February, a remarkable total of 705 yachts, measuring approximately 12,863 meters in length, have been meticulously crafted, yielding revenues amounting to $1.69 billion. Furthermore, an additional $108 million was generated through maintenance services during the same period.
Gürses emphasized the symbiotic relationship between yacht maintenance services and local tourism, as affluent ship owners often choose to reside in the region until maintenance work is completed, thereby bolstering the local economy.
Strategic infrastructure investments in preceding years have paved the way for the influx of orders for larger yachts, signaling a promising start to 2024. Gürses expressed optimism regarding the anticipated increase in yacht deliveries compared to the previous year, citing a positive trajectory in the industry.
The cumulative value of the 93 yachts delivered in 2023 amounted to $143 million, contributing significantly to Türkiye’s ship and yacht export revenues, which experienced a notable surge of 33.6 percent from the preceding year, reaching $1.94 billion. The momentum continued into the first two months of 2024, with export revenues soaring by 334 percent year-on-year to $309 million, according to data from the Türkiye Exporters’ Assembly (TİM).
Anticipating continued growth, Gürses emphasized the potential for higher revenues as companies within the free zone expand their capabilities to build larger and more sophisticated vessels, tailored to evolving market demands. The burgeoning interest in mid-size, catamaran, and hybrid boats, particularly in the aftermath of the pandemic, has been met adeptly by companies within the Antalya free zone, which also specialize in the construction of eco-friendly solar-powered boats.
Of the 88 companies operating within the Antalya Free Zone, 30 boast foreign capital, reflecting the zone’s attractiveness as an investment destination. Notably, total exports from the zone amounted to $1.1 billion last year, with industrial companies constituting 96 percent of this figure. The European Union emerged as the primary export destination, commanding a 50 percent share of total exports.
The success story of Antalya Free Zone serves as a testament to Türkiye’s prowess in the luxury yacht industry, positioning the country as a global leader in maritime craftsmanship and innovation.
