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Trends and opportunities Download PDF
The market
The Russian Federation is one of the fastest-growing emerging markets in the world. Over the past seven years, the world’s largest country has achieved average growth of almost 7 per cent. For Australian exporters of boats and marine technology, Russia presents exciting opportunities as affluent buyers look for new luxury items and maritime business activity increases.
Despite its location far from the sea, Moscow’s newly wealthy residents are taking advantage of the extensive river and lake infrastructure around the largest city in Europe. There are 200 marinas for vessels in the Moscow region.
With estimates that the luxury boating market in Russia has grown 10-fold in last 10 years, industry experts say there are currently around 60-70 super-luxury yachts (12-30 metres length) in Russia. In a year, this is expected to grow to 90 such yachts and in two years 110-120. In other words, around 30 such yachts are sold here every year. The first yacht and boat show was held in Moscow in June 2006, with Austrade participating along with a number of Australian boat companies. Some 10 major boat and yacht distributors have offices in Moscow and St Petersburg.
Moscow holds the lion share of the luxury goods market in Russia, servicing over 100,000 consumers. According to Ministry of Natural Resources, there are 50,000 small sized vessels registered in Moscow and its region, including 10,000 yachts. However, there are additional opportunities in St Petersburg and on the Black Sea.
Opportunities
Opportunity areas in Russia's marine industry include:
- High speed ferries connection from mainland to Sakhalin
- St Petersburg-Kaliningrad ferry route is set to deliver 11,700 passengers a year
- Large and medium sized yachts and super-yachts
- Power boats with an additional upper deck, duplicate command post, space for sunbathing and a dining area with barbecue and seats
- Pleasure boats (both sail and motor) and boat fittings
- Sochi sea port is planned for renovation and ferry connection with Turkey
Further information
For further information and to discuss your specific export needs to this market contact our Russia marine specialists within our Austrade EMEA Marine Team |
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