Largest collection of luxury boats at Dubai mega show

31/01/2014 08:55 AST

The Dubai International Boat Show has confirmed that 30 large luxury boats exceeding 21m will be showcased at this year’s exhibition.

In addition, an impressive 19 super yachts, including the largest boat in the history of the show, will be on display among more than 430 boats on land and water. The 22nd Dubai International Boat Show, the Mena region’s leading luxury yacht platform, runs from March 4-8, 2014 at the Dubai International Marine Club, Mina Seyahi and will feature 840 exhibiting companies and brands — a 12 per cent increase over 2013.

The increasing participation reflects the UAE’s increasing importance in the international luxury maritime market and heightened consumer confidence across the GCC. According to the McKinsey Global Private Banking Survey 2013, the total high net worth wealth in the Middle East is predicted to increase by $3.3 trillion by 2014, positively impacting regional buying power and stimulating further growth across the sector.

With the International Monetary Fund (IMF) having recently increased its forecast economic growth for the GCC to 4.4 per cent in 2014, an increase in new boat project builds will be a solid contributor to the region’s steadily growing leisure marine market. As reported by US-based ShowBoats International Global Order Book 2014, UAE luxury yacht builders plan to build 18 super yachts (those 24m and longer) exceeding 850m in total. The definitive guide to the world’s luxury super yacht industry also ranked the UAE ninth among the most productive manufacturers of super yachts.

Erwin Bamps, COO of Gulfcraft, said: “More than simply a great place for yacht enthusiasts to visit, there is a vision for the UAE’s super yacht building industry that it will, slowly but surely, increase its output until it is one of the very top manufacturing bases for luxury yachts anywhere in the world. At this point, the UAE’s shipbuilding growth appears really unstoppable.”

More than 50 countries are represented by the Dubai International Boat Show exhibitors this year, as well as four dedicated country pavilions from Australia, Italy, USA and Turkey, with the USA confirming an impressive 35 per cent increase in companies.

Khaleej Times