SPAIN - Tourism
CEO, IPM Group (STP Shipyard Palma)
Jose María Campuzano Casasayas graduated in economic sciences and holds a master’s degree in business management. He is CEO of the IPM Group, having previously been managing director of Son Llatzer Hospital, general manager of the Balearic Health Service, and administrator at the General Hospital.
STP Shipyard Palma has played an important role in professionalizing the repair industry in Mallorca and helping it become one of the most important yacht repair centers in the world.
How would you assess Mallorca’s position as a yacht repair destination, compared to other competitors in the Mediterranean?
Being located in the Mediterranean works well for us, as it receives 70% of the world’s yacht fleet. Mallorca is an island in the occidental center of the Mediterranean with almost 300km of coast and highly developed services. We have a first-class airport, an amazing climate, and fantastic places to moor. Mallorca’s positioning is enviable for repair and recreational business for yachts. Yet, we face some challenges, as many cities abroad are improving their nautical facilities becoming known for their offering.
How does the nautical sector contribute to Mallorca’s economy?
This sector is an increasingly important part of the Balearic economy, strongly represented by tourism and industrial services. Specifically, the repair industry is one of the engines for the Balearic economy, generating employment and industrial activity. There has been notable growth in the repair sector, being Mallorca one of the most relevant hub globally. We grew by 220% among repair companies, saw a 300% rise in this sector’s workforce and a 250% increase in repair sites. There has also been a growth in the quality and quantity in repairs itself. Yacht repairing deseasonalizes and complements tourist activity, and, therefore, our business is a continuation of the tourism season. We have to consider every boat’s yearly usage according to length. We can accommodate up to 100m length in water yacht-repairing and 60-70m length land-based. Yachts of 30-40m require EUR1-2 million per year in maintenance cost, those around 40- 60m require up to EUR2-4 million, 60- 80m require EUR3-6 million, and those longer than 80m require EUR6-10 million per year. Repair, insurance, taxes, consumption, and mooring are 10% of a yacht’s purchase value. This is an economic activity that Mallorca is excelling at, and it needs further development. The turning point in Mallorca was 2008. IPM Group bet by expanding to an area of 130,000sqm, an increase in length to 100m for ships and 60m for shafts and weight capacity from 150 to 700 tons for boat repair. There have been both qualitative and quantitative changes. Mallorca is now one of the most important yacht repair center of the world by number of repair centers per square meter, and in term of quantity and quality of the industry, technology, and space.
What’s makes STP Shipyard Palma a unique model for the development of the nautical industry on the island?
What makes STP Shipyard Palma special is its open model. The company does not undertake repair work. It handles services within its state-of-the-art shipyard. This model makes the specialized repair companies choose our shipyard and yacht owners have a wide offering. For example, STP Shipyard Palma has available to about 30 painting companies, 15 mechanical companies, and 10 electronics enterprises. This model definitely invigorates competition between companies and improves quality while creating more competitive prices. Companies have to continue specializing if they want to compete. This is what has increased the growth of Balearic GDP. This sector has a large multiplier effect on employment and a labor-intensive effect. We handle the hoisting, the launching, the repair space and the coordination. We hold 9001, 14001, and 45001 ISO certification.
What are the challenges for the development of the industry going forward?
The Balearic government has declared the nautical sector a strategic one. STP Shipyard Palma created a model that contributed significantly to the professionalization of the repair industry in Mallorca; however, the entire Mediterranean is investing in this, which means Mallorca will enter into competition with other destinations. For us, it is mandatory to continue investing, especially in making a transition to sustainability in terms of our infrastructure and capabilities. We need to maintain this quality threshold for rules and handling.
SPAIN - Real Estate & Construction
Director, Jaime Salvá Architecture and Interior Design
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