The Italian boating industry is resisting the crisis by virtue of its excellence, showing that quality pays, even during critical phases. Its approach to export, in particular, has not been significantly affected by the credit crunch. In fact, the trade balance for pleasure craft improved in 2008, with a difference of 1.36 billion Euros between exports and imports (+16.5% compared to 2007). “The figures from the Italian boating industry, like that worldwide, have decreased,” emphasises Anton Francesco Albertoni, president of UCINA (the Italian marine industry association), the organisation that represents the companies operating in the field. “Yet we have withstood the crisis well, and the fact that we managed to maintain world leadership in the construction of boats over 24 metres is significant”. Italian firms have further improved their position in this segment: the global order book for 2010 shows, in fact, that the Italian boating industry is well in the lead, with 51% of orders world-wide, compared to 49% in the previous year. Moreover, five out of the top six companies in the world are Italian (Azimut–Benetti, the Ferretti Group, the Fipa Group, the InRizzardi Group and Sanlorenzo). In the production of boats under 24 metres, Italy is number one in Europe and second in the world, just behind the United States “where, however, there is a very strong domestic market for small boats,” adds Albertoni. All in all, the figures are quite impressive. What are the reasons behind the leading role that Italian boat building has managed to acquire? “We have not achieved leadership overnight,” Albertoni clarifies. “We have earned it over time and it has remained like this for eight consecutive years. Our history, above all, lies at the roots of our success: Italian boating has always distinguished itself from its stronger competitors, such as the USA and Great Britain, for its capacity to create technologically advanced solutions, together with our great design quality. Italian firms have also proved they are capable of anticipating consumer models and have invested with conviction, not just in product quality but also in after-sales services”. “Italian boats,” adds the president of UCINA, “are the expression of many outstanding national fields: boatyards as well as lighting, plant engineering, textiles and furnishings. Basically, everything for which Italian manufacture is admired around the world is found in a boat.” Another segment in which Italy is the absolute leader is components, which represents around 1.5 billion of the 6.2 billion Euros turnover in the global boating industry. “In fact, there is not a boat in the world,” continues Albertoni, “that does not have Italian components.” Most of the exports from the Italian boating industry are for the European Union (48.5% in 2008, with France being the main country buying Italian products), while 24.8% goes to the Americas.