NZ bends over backwards to lure big-spending yacht owners

[WELLINGTON] When Russian billionaire Andrey Melnichenko came to New Zealand, the government approved his superyacht as a special quarantine facility so that family dog Vala could avoid a spell away from its master.

Mr Melnichenko's US$350 million yacht was one of 35 luxury vessels to visit in 2013, spending NZ$185 million (S$197 million) on refits and repairs and NZ$95 million on tourism. Prime Minister John Key wants to double both numbers by 2018.

Facing a September election, Mr Key is seeking to boost tourism, skilled services and manufacturing to diversify an economy reliant on dairy exports and squeezed by an elevated currency. Part of the effort is aimed at reversing a slump in boat building and fitting in the wake of the global financial crisis and luring more super rich to New Zealand's shores.