CGCC Business Club Magazine: Yacht Economy Sets Sail
MARCH 19, 2025
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“With a total sea area of 1,640 square kilometers and a coastline stretching 1,178 kilometers, coupled with picturesque scenery, Hong Kong possesses natural advantages for developing boat tourism. As the SAR government increases resource allocation for developing the boat economy, Hong Kong’s tourism industry blueprint will become more complete.
“Our maritime culture is worth treasuring,” says Lawrence Chow, Chairman of the Hong Kong Boating Industry Association. He points out that Hong Kong’s sea area is larger than its land area, with 263 islands and numerous beaches offering beautiful scenery. Meanwhile, Hong Kong’s evolution from a fishing port to an entrepôt has built a strong foundation in local shipping and related markets, providing favorable elements for developing boat tourism.
Boats not out of reach
While many consider boating a luxury pursuit, Chow says this isn’t necessarily the case. “I’ve experienced co-purchasing a second-hand sailboat with friends, each paying just over HKD20,000 to own a vessel for sea adventures.” As for buying a new entry-level boat, it generally costs about HKD1 million, equipped with facilities like beds and bathrooms. Potential buyers can consider joint ownership with family and friends, sharing insurance, berthing, and maintenance costs.
Recent years have seen a trend toward younger boat enthusiasts who enjoy sharing seafaring and water activities with peers. “Hong Kong is surrounded by many distinctive islands like Po Toi Island, High Island, and Yim Tin Tsai, offering both historical culture and natural ecology, making them popular destinations for sea excursions.”
Government’s active planning follows industry needs
Chow indicates that the SAR government has significantly increased its focus on developing boat tourism in recent years and actively responds to industry needs, which they find encouraging. “The industry has been communicating with relevant authorities. Currently, Hong Kong has over 12,000 licensed boats but fewer than 5,000 berths. We hope to increase berthing spaces to further expand boat tourism's development potential.”
The 2024 Policy Address proposed promoting boat tourism, with active follow-up in the latest Budget. The SAR government has invited the MTR Corporation to study transforming the waterfront and former pier area south of Hung Hom Station into a new harbourfront landmark, including plans for a boat club. Additionally, the Airport Authority announced the SKYTOPIA development blueprint early this year, including plans for Hong Kong’s largest marina with over 500 boat berths at the airport bay, expected to provide a solid foundation for local boat tourism development.
Advocating license recognition and Greater Bay Area “free travel”
The Boating Industry Association has been closely monitoring the progress of opening up Greater Bay Area boat “free travel.” Chow believes that the national maritime tourism market is developing rapidly with broad prospects, with the Greater Bay Area and Hainan Island being the most promising regions. The Greater Bay Area’s boat market is expected to reach HKD100 billion by 2030.
“Hong Kong has the conditions to promote boat ‘free travel,’ but current entry procedures are complex, such as requiring a crew member with a Hong Kong vessel operator certificate, which is a major constraining factor.” Chow suggests authorities review the driving license management model, implement appropriate relaxations, or allow mutual recognition of Hong Kong and Mainland driving licenses to help promote boat tourism.
In fact, last year’s 2024-2027 Action Plan for High-Quality Development of the Boat Industry specifically proposed pursuing a pilot program for Guangdong-Hong Kong-Macao boat “free travel” and implementing facilitation measures for Hong Kong and Macao boats regarding entry-exit, navigation, berthing, maintenance, tourism and other aspects in the Greater Bay Area. Guangdong also plans to strengthen boat mutual recognition and connectivity among the three regions, developing boat exhibitions and events. Chow hopes that boat “free travel” will soon set sail in the Greater Bay Area.”
Our director, Lawrence Chow, is featured in the monthly magazine by The Chinese General Chamber of Commerce, Hong Kong to discuss the development of yacht tourism in Hong Kong.