Piero Formenti has been appointed President of Confindustria Nautica following approval from the General Council of the Association. The former senior vice president of the association takes on the role following Saverio Cecchi's decision to self-suspend himself from office amid ongoing criminal investigations in Liguria.

“With the same dedication with which I have taken care of growing the company, which I run with my wife and my son, and the associative representation, I make myself available to the associated companies with a spirit of service,” says Formenti.

Formenti has served as Vice President for two consecutive terms since 2015. His leadership extends beyond national borders, having presided over the European Boating Industry (EBI) as President for two consecutive terms until 2019. Presently, he continues to contribute to the EBI's mission as Vice-Chair, providing support to the President during the 2023-2025 term.

According to Formenti, the global economic landscape is showing signs of a slowdown compared to an exceptional three-year period of growth, which culminated in 2023 with the sector achieving historic highs in turnover, exports, and job creation, increasing from 160,000 to 200,000 employees over the past five years. The association president also highlights that in the small boat sector, market contraction in certain product segments and regions is anticipated, heavily influenced by rising interest rates and restricted access to credit.

Looking ahead, Formenti stresses that there is an urgent need for swift responses in terms of streamlining administrative processes, enhancing flag competitiveness, reducing registration times, implementing regulations on new eco-friendly fuels, bolstering training programmes, and improving the competitiveness of tourist ports, slides, and shelters. These efforts are essential to ensuring the overall competitiveness of the Italian system and providing companies with the most conducive environment for sustained investment.

“Precisely in these market circumstances, the work of consolidation and growth of the Genoa International Boat Show is even more important,” adds Formenti. “I'm disappointed by certain press comments regarding the public economic support allocated to the show, which ranks second among Italian fairs overall and third globally in the boating sector, contributing 65 million euros solely to the Ligurian economy (The European House - Ambrosetti, 'Rapporto Liguria 2030,' July 2023).

“Yet, it still lags behind in support compared to foreign counterparts. Therefore, the ICE Events Plan has progressively increased its backing for the Boat Show, recognising the necessity for Italy to establish a strong presence in international fairs, particularly in sectors showcasing the excellence of Made in Italy products. In this sense I believe there is still work to be done."

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