Profitability of investment in the development of the sailing infrastructure of small Polish seaports

The process of developing sailing facilities in small seaports of the Polish coast has not been completed. Simultaneously, there is an ongoing debate on the purposefulness of investing in the capital-intensive sailing infrastructure. Therefore, the main aim of this article is to conduct an analysis of profitability of sailing investments. The article also attempts to show the importance of sailing tourism in a broader context of the local economy. The article uses methods of literature review, in-depth interview, as well as comparative and statistical analysis. In order to calculate the break-even point for sailing investments, the FNPV indicator was used. Research results have shown unprofitability of sailing investments for port operators, although most sailing facilities did generate income. The diversified profitability of sailing facilities resulted from hydrotechnical conditions, administrative and location restrictions, as well as the scope of services provided. Sailing tourism positively impacts local economy. The sailors’ spendings ‒ through a multiplier effect ‒ stimulate the development of port municipalities and alleviate unprofitability of sailing investments. While deciding upon the expansion of sailing facilities, a full spectrum of impact of sailing tourism on local economy should be taken into consideration, including benefits which are difficult to quantify, and not just the financial situation of port operators. In order to increase the impact of sailing tourism on local economy, one should strive to extend the stay of sailors in ports by expanding the range of services offered. The sailing product could be enriched through creating a sailing cluster out of local tourism enterprises.