Saint-Tropez Is Witnessing Decline In Revenue

Saint-Tropez, the resort of glittering Riviera favored by the super-rich and celebrities are lamenting a decline in berthed number in yachts at its marina this summer.

The owners of Luxury yacht are not to be short of funds, but, because of the prohibitive cost of the luxury yachts, they are snubbing the upscale resorts of Côte d’Azur.

Now, instead of Antibes or Saint-Tropez’s’, the renowned “Billionaires’ Harbor”, people are choosing relatively less expensive destinations at the places like Spain or Italy, where the fees of berthing, crewing costs and fuel prices are lower.

Coming to the high costs on the Riviera, then strict enforcement of EU regulations France has to be blamed for this. They have strict EU regulations on the marine diesel sales price and for the high French tax new requirement along with the social contributions to be paid to the crew members.

As unease mounts for jobs and local businesses, the three prominent politicians of the Riviera, the Riviera region president Renaud Muselier, the mayor of Nice, Christian Estrosi, and the mayor of Toulon, Hubert Falco has issued a plea from President Emmanuel Macron for help in this regards.

When asked about the reason for this step taken by these politicians, they said, “The economic situation intensity of the yachting sector in the region of Provence-Alps-Riviera makes it important for us to appeal for the direct intervention of the President,”

After the changed tax law in the country, the Revenue at Saint-Tropez, which is an iconic spot, has fallen about 30 percent, since the start of this year, where a less glamorous spot Toulon, has suffered the loss of 40-per-cent after this tax imposition.

They have complained that the EU is allowing Spain and Italy to undercut the Côte d’Azur and have called urgent action.