Strong international exhibitor participation in the upcoming Dubai International Boat Show from the world’s boat manufacturing hubs, Australia, China, Germany, Italy, US, UK, France and Turkey is a clear sign that appetite for luxury spending has returned in full force, say organisers Dubai World Trade Centre (DWTC).
Consumption of luxury goods in the Middle East climbed 11% last year, according to a report by consultant Bain & Co., while the global luxury market rose 5% to an estimated EUR223 billion. Spending on yachts increased 2%, according to Bain & Co.
The 23rd edition of Dubai International Boat Show, running from 3-7 March 2015, will feature the return of the German Boat and Shipbuilders Association (DBSV) after a short hiatus, alongside new country exhibitors with Luxembourg, Indonesia and Spain.
New exhibitors from Italy include Genial Yachts and Comar Yachts, a yacht manufacturer that is moving its entire production facility to the UAE. Dubai International Boat Show will also welcome Bel Monte Boats, a new company from Luxembourg, and SAY Yachts, a catamaran and sailing yacht designer from Germany.
Boat manufacturing giants make strong return
“The Middle East is an important market for German yards and equipment manufacturers, so we have decided to return with a stand to the Dubai International Boat Show, to renew existing contacts and make new ones,” said Claus-Ehlert Meyer, Managing Director, German Boat and Shipbuilders Association. “By participating in the event, we can highlight the label “Made in Germany” and make Germany even better known internationally as a centre of yacht building. The fact that the biggest yachts in the world for many years are currently built in Germany, demonstrates that all the essential factors are present: the engineering, the size of the building berths, the infrastructure, the quality of the suppliers, and the expertise of the yard workers.”
The 2015 edition of the Dubai International Boat Show will also feature a solid presence from China as the Chinese luxury yacht market continues to see growth, with yachting becoming more popular with the nation’s increasingly affluent consumers. According to a report by Boston Consulting Group, China’s private financial wealth is expected to increase from USD22 trillion to USD40 trillion by 2018.
According to ShowBoats International’s 2015 Global Order Book, China was the eighth-highest nation for superyacht construction, with 28 projects totalling over 1,000 metres, compared with 26 projects amounting to 900 metres for the 2014 edition.
Commenting on Australia’s participation at Dubai International Boat Show 2015, MaryAnne Edwards, Chief Executive, Australian International Marine Export Group & Superyacht Australia said: “We have been a long-term exhibitor at the Dubai International Boat Show, as it is very much a key show for us in terms of developing our presence in the region. We also are looking at avenues to promote Australia as a destination for the global Superyacht fleet and promote our capability to service these yachts when they come to Australia.With the growing presence of superyachts at the show, we now may look also at this event to showcase our Superyacht sector.”
“This year the Dubai International Boat Show is proving to be a truly international event, bringing together marine leisure enthusiasts from around the globe – from across Asia, the US, and Europe, as well as from all over the Middle East,” said Trixie LohMirmand, Senior Vice President of DWTC. “Dubai is now firmly established as a regional marine hub and a growing number of international participating exhibitors are gaining significant business benefits from the event.”
The 23rd 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 3-7 March 2015.