Around 12 percent of the world’s superyachts are owned by buyers from the Middle East, it has been claimed ahead of next month’s Dubai International Boat Show.
The Superyacht Builders Association (SYBAss), many of whose members are participating in the show, said in a statement that 193 superyachts are owned by people from the Middle East, representing 12 percent of the global fleet of yachts over 40 metres in length, it says.
The average length of Middle East-owned superyachts is 63 metres, SYBAss added.
Theo Hooning, secretary general of SYBAss, said: “The Middle East is one of the traditional markets for the superyacht industry.
“Most 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.”
The superyacht market is the strongest it has been since 2009, with research from Boat International claiming more superyachts are being built around the world now than at any time since the end of the global financial crisis, the statement added.
According to Boat International’s 2016 Global Order Book, 755 superyachts of 24 metres or longer are on order this year, up from 734 in 2015, the company said.
Hooning added: “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.”
The 24 Dubai International Boat Show takes place at Dubai International Marine Club – Mina Seyahi from 1 – 5 March 2016.