9 January 2020, Written by Business News Australia

As part of its commitment to developing The Spit on the Gold Coast the Queensland Government has announced it will provide $2 million to help deliver a new superyacht berth.

The funding is a part of the Government's $60 million investment in The Spit master plan, which is expected to boost tourism opportunities and improve the area at the northern end of the Gold Coast.

"The Southport Yacht Club estimates this $7.7 million superyacht berth project, to be located adjacent to Jack Gordon Park, could see up to 25 jobs created during the construction phase, with many more created as a result of the project," says Minister for State Development Cameron Dick.

"The new berth will allow the SYC to cater for more, and larger boats, which opens up the Gold Coast to some of the world's largest and most luxurious yachts."

Construction of the superyacht berth, once all approvals are met, could be completed by October 2020.

"This would mean the Gold Coast would be able to capitalise on superyachts leaving Japan after the Tokyo Olympics before heading to New Zealand for the America's Cup," says Dick.

Attracting the high net-worth individuals and tourists that naturally come with their superyachts would be a massive boost for the Gold Coast economy according to Dick.

"Superyacht passengers spend more when they are in town," says Dick.

"They have a much higher onshore spend on food and beverages, dining and other expenses so we expect to see this development stimulate flow-on jobs in other parts of the Gold Coast."

Southport Yacht Club CEO Brett James says the government's investment in the superyacht berth would help change the face of tourism on the Gold Coast.

"The berth will open the doors to visits from bigger and more expensive yachts which bring with them economic opportunities not just for the yacht club but for businesses across the region," says James.

"More yachts mean more work for the people who service them up in Coomera, more orders for the people providing provisions for them, and more customers for restaurants, eateries and retail outlets across the Gold Coast."

"The Southport Yacht Club is already a designated customs and immigration clearance point, and this project will give international superyacht owners additional reasons to drop anchor in the Broadwater."

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Business News Australia