Dubai International Boat Show Market Report 201720 Sep 2016
We take a look at the latest performance of the international maritime industry and try to predict some of the exciting developments in the year to come.
In 2017 the Dubai International Boat Show is set to hit a new milestone, with the Middle East’s largest marine luxury, leisure and lifestyle industry event celebrating its 25th anniversary.
For the last quarter of a century the Dubai International Boat Show has prided itself on showcasing the finest in sailing, watersports, fishing and diving. In that time, the event has seen an amazing growth in consumer demand for the latest small to medium size boats, pleasure crafts, high speed power boats and the most luxurious superyachts.
By all accounts this rise in demand looks set to increase in 2017, with the market already showing a number of reasons to get excited about the current state of the maritime industry.
Here then are just a few reasons why you should be excited about the global and regional maritime industry and how it’s set to have an impact at Dubai International Boat Show 2017:
US $68mn sales at Dubai International Boat Show 2016
With more than 30,000 visitors from across 120 countries coming down to Dubai International Boat Show 2016, the event saw a crowd of passionate ocean adventurers spend a total of AED 250mn ($68mn) on an array of elite superyachts, leisure crafts and the latest watersports equipment. In 2017, with more than 840 leading international, regional and local exhibitors from 55 countries at the event, 2017 is looking to be an even more impressive demonstration of the market’s love for all aspects of the worldwide maritime industry.
Small is beautiful when it comes to Superyachts
Internationally the maritime industry is looking strong, with the latest stats from Boat International listing that 206 superyachts have been sold worldwide so far in 2016. Out of these figures the most expensive yacht cost an incredible AED 242mn ($66mn), but in terms of sheer numbers it was the superyachts on the smaller side of the scale which have been by far the most popular, with 80 yachts measuring 24-30m sold compared with the 13 measuring more than 60m.
UAE’s maritime industry investments to reach $61bn
While a number of worldwide markets seem to have valid concerns around on-going fluctuations in oil prices and international currencies, in the UAE at least recent reports have stated that investments in the maritime industry are expected to reach AED 224bn ($61bn) in 2016. This means there are still a number of convincing reasons to get excited about the level of maritime investment, with Dubai International Boat Show firmly at the centre of this regional investment market In 2017.
Personal spending power is stronger than ever
When it comes to the personal buying power of visitors to Dubai International Boat Show things are also on the up, with a recent report from the Boston Consultant Group (BCG) predicting that personal wealth in the UAE is set to grow by a compound annual growth rate (CAGR) of 14.1 per cent to US$1 trillion by 2020. Beyond the UAE the report also details that Saudi Arabia will see its private wealth rise to $2 trillion by 2020, meaning the buying power for luxury items across the GCC is matched only by the growing interest in the yacht, sailboat, watersport and wider maritime industries.
Get set to sail away in 2017
On the sailing yacht side, Boat International recently released its industry stats for 2015 in what was widely regarded to be a bad year for sailing yachts, with the 32 sales down from 45 in 2014. So far 2016 seems to be showing similar levels of performance, with the 11 sales so far the same number as in the equivalent period last year. However, the big difference is 2016’s average sales price of €8,440,000 which is well above the €2,910,000 figure from the first five months of 2015, which seems to indicate a busy 12 months ahead for companies specialising in sailing yachts and sailing equipment.
Dubai International Boat Show is back and bigger than ever
All the above means that Dubai International Boat Show 2017 will be bigger than ever with more than 28,000 marine industry enthusiasts from across 151 nationalities set to attend the event.
Just one of the exciting visitor focused features taking place next year includes a dedicated on-land display of the latest small to medium size boats from simple pleasure crafts to high speed power boats. As part of the event’s Marina display there will also be a floating exhibition of luxurious yachts and boats showcasing the ultimate in boating design, craftsmanship and lifestyle.
Next year’s event will again be co-hosted with the Dive Middle East Exhibition (DMEX), which is the Middle East’s only international diving event set to immerse professional and amateur divers into a world of adventure. In addition the event will host live demonstrations of the most exciting watersports alongside displays of the latest sporting machinery and equipment; while entertaining both experienced and beginner sailors with hands on demonstrations of the most amazing sail boats and equipment.
Head down to Dubai World Trade Centre from the 28 Feb to 4 Mar to join more than 26,000 visitors from over 120 countries and experience elite superyachts, leisure crafts and interactive activities as well as luxury equipment suppliers and services. The most anticipated event in the Middle Eastern maritime calendar has over 850 leading international, regional and local exhibitors from over 50 countries, making it an unparalleled platform for exhibitors to showcase boats and products to Middle Eastern and International marine investors and enthusiasts.