St. Maarten Marine Industry Economic Impact: Yachting Powers 16% of GDP
A new study shows the St. Maarten Marine Industry contributes 16.3% of GDP, with superyachts, sailing, and fishing driving growth.
Superyachts, sailing yachts, and sports fishing are not just leisure activities in St. Maarten — they are vital to the island’s economy. Recognizing the need for accurate data, Grisha Heyliger Marten, Minister of Tourism, Economic Affairs, Transport and Telecommunication (TEATT), commissioned the Economic Impact Study on the Marine and Maritime Industry. Results, released in December 2024, highlight the central role the sector plays in the island’s prosperity.
Key Findings from the Study
The report shows the marine and yachting industry is a true cornerstone of St. Maarten’s economy:
Economic Contribution – The maritime sector accounts for 16.3% of the island’s GDP.
Growth and Vessel Arrivals – In 2023, 4,029 vessels arrived, including 418 superyachts, 1,484 sailing yachts, and 284 motor yachts. This activity generated $140 million in direct spending, with 26,386 yacht visitors contributing to the economy.
Major Events – The St. Maarten Heineken Regatta continues to be a flagship event, attracting 63 visiting yachts, 453 international crew, and 275 volunteers, resulting in $3.6 million in economic activity.
Employment and Business Impact – The maritime sector supports over 300 businesses and sole proprietors, creating around 4,769 jobs and driving $242 million in annual expenditures.
Public-Private Partnership
This landmark study was made possible through collaboration between TEATT, the Port of Sint Maarten, and the Sint Maarten Marine Trades Association (SMMTA). Together, they provided the resources and expertise to measure the economic importance of the industry and identify future opportunities for growth.
A Cornerstone of St. Maarten’s Future
With superyachts, regattas, and fishing charters drawing visitors and investment, the St. Maarten marine industry is more than a tourism driver — it is a critical pillar of the island’s economy. By quantifying its impact, government and industry leaders now have the tools to strengthen policy, attract investment, and continue positioning St. Maarten as one of the Caribbean’s leading maritime destinations.
For more details, visit www.sintmaartengov.org
Carol Bareuther has written for ALL AT SEA since 2004.
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