When talking about luxury motor yachts manufacturers, people commonly think of famous yacht builders from Western and European countries. But, one market is making a leap in this space, the Middle East. According to Studying the Middle East Yacht Market 2017, the yacht market in the Middle East is expected to grow continuously to about 5 to 10% in the coming years.
Today, Middle East owns almost a third of the world’s largest yachts. United Arab Emirates (UAE) has also ranked top 10 among Superyacht Manufacturers, where two of the most luxurious superyachts in the worlds are owned by the President and Vice President of UAE. This testifies the long standing relationship of yacht builder and Emirates that will further strengthen in the future.
Here are more other reasons why the yacht industry in the Middle East will further continue:
- Its natural beauty. The breath-taking sceneries, sparkling seas and the beautiful coastline of the Middle East make it a perfect place for boat lovers and enthusiast. Its natural beauty contributes to the number of reasons to get excited about the region’s maritime industry.
- The marine industry. Based on research, the investment of the UAE marine industry is expected to reach AED 224bn. With the yearly Dubai International Boat Show, more is expected to come with the current level of maritime investment. From this year’s DIBS, over 26,000 visitors from across 151 countries have attended the event showcasing the finest boats in water sports, sailing, fishing, and diving. The event was a demonstration of the crowds’ love for all aspects of the marine industry.
- The beauty of Superyachts. Small is beautiful even in the world of superyachts. From the latest report from Boat International, 370 superyachts were sold in 2016, while the most expensive yacht sold out of these figures cost about AED 242mn.
The Middle East has firmly established itself as a prominent location for luxury yachts. With the pristine beauty of the region’s coastline, the growing marine industry and special boating events no wonder it holds a lot of promise with regards to the growth of the Middle East yacht industry.
So, if you’re looking for high caliber and professionally finished yachts with superior performance, Gulf Craft, a luxury yacht manufacturer, is a perfect match. Browse and check their page to see more of their yacht collections.
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