Middle East Region Hosts Some of the Largest Yachts in the World,
Says SYBAss Secretary General
Continued Demand for Superyachts Among HNWIs Drives Attendance to Region’s Premium Leisure Marine Event;
Explorer-style Superyachts Lead Gulf Sales: CEO of Gulf Craft
Dubai, United Arab Emirates
The Middle East Region hosts some of the largest yachts in the world, according to the Superyacht Builders Association (SYBAss) whose members are participating in Dubai International Boat Show running 1 – 5 March 2016.
Organisers have said that the continued demand for superyachts among HNWIs drives their attendance to the premium leisure marine event, as it acts as a platform for them to learn more about new models being launched by the world’s leading maritime industry players.
193 superyachts, or 12% of the global fleet of yachts over 40 metres in length, are owned by people from the Middle East with an average length of 63 metres – the highest in the world.
“The Middle East is one of the traditional markets for the superyacht industry. Some of the world’s largest yachts have been delivered for this region, and the historic demand from this region has been vital for the growth of this sector,” said Theo Hooning, Secretary General of SYBAss.
“The demand for superyachts from the Middle East can be classified as fairly stable over the years, while others may have been more volatile, and we have hopes that the stability and demand for superyachts in the Middle East will continue as is,” added Hooning.
To best promote the Superyacht experience and lifestyle, SYBAss will again represent the world’s leading superyacht builders at the Dubai International Boat Show, bringing them together in one dedicated platform at The Superyacht Life Area of the show’s Marina Display. The show is one of few in the world with SYBAss endorsement, which was granted in 2011.
Research from Boat International claims more superyachts are being built around the world now than at any time since the end of the global financial crisis. Their 2016 Global Order Book – the pinnacle report for global yacht builds – found that 755 superyachts of 24 metres or longer are on order this year, up from 734 in 2015, highlighting the current strength of the industry.
The market has also been boosted by the growing demand for explorer yachts as owners seek to visit remote destinations, according to Boat International, with an increase of 17% on last year’s explorer yacht builds.
“We noticed the trend towards long-range and fuel efficient yachts several years ago and used the Dubai International Boat Show in 2015 as a platform to premiere our Nomad Yachts range of long-range explorer yachts.. We know that yacht owners are not only wanting to venture further out to sea, but also stay out longer. This is the idea behind our Nomad Yachts brand, and why we’re seeing a solid interest in the Nomad 75 from across the high-net-worth marine leisure players,” said Erwin Bamps, CEO of UAE-based superyacht-builder, Gulf Craft.
“We have supported the show since its creation 24 years ago, and we continue to see it as our platform to profile ourselves not only to the region, but to the world. It’s why we’ve chosen it to unveil new concepts and our newest superyacht to the world, and why we will always see the show is a crucial partner in our success,” added Bamps.
Dubai International Boat Show has long recorded strong participation of high net worth individuals (HNWIs), defined as having investable finances in excess of USD 1 million. More than 20% of its overall annual attendance comes from HNWIs seeking to enter, or broaden, the marine lifestyle.
“The strength of our superyacht offering and of the quality of superyacht exhibitors continues to draw some of the wealthiest boat owners and buyers from around the world, many of whom are already here in the Middle East and closely associate our annual event with the many global and regional boat launches that take place over the week here each year,” said Trixie LohMirmand, Senior Vice President of Dubai World Trade Centre, organiser of Dubai International Boat Show.
The 24th Dubai International Boat Show at Dubai International Marine Club – Mina Seyahi is open to trade visitors and the general public from 3pm – 9.30pm daily from 1 – 5 March 2016, with a single entry ticket cost of AED 60.