PROFILE
THE ASIAN YACHTING industry is on the rise . With a growing expat community taking to the water , as South East Asian destinations continue to flourish , Asia is slowly realising its full potential with the market experiencing a healthy level of demand for charters as clients look for an exciting alternative to the Caribbean .
Southeast Asia ’ s yachting and sailing event calendar is reaching saturation point with the number of regattas and superyacht shows increasing exponentially year on year .
The global yacht industry is expected to reach $ 74.7bn by 2022 , driven by the rising interest in luxury cruising among high-net worth and ultra-high net worth individuals particularly in developing regions of Asia-Pacific and the Middle East , richly benefiting from a growing trend towards marine tourism and waterbased sports and leisure activity .
Vrit Yongsakul is Group Managing Director of Boat Lagoon Yachting , one of Asia ’ s largest yacht importation , distribution and after-sales service organisations , representing some of the world ’ s most prestigious yacht brands . “ The business has generally grown as buyers have become more appreciative and attracted to the lifestyle pleasure and benefits that yachting brings ,” Yongsakul explains . “ As their experience grows , the trend also moves , towards the bigger yachts ( from 60ft to 130ft ).
“ People are travelling further and longer on their yachts as well as enjoying customising layout and specification with the larger yachts to suit their needs . There is more corporate usage for entertainments as well , as private vessels , especially in destinations such as Singapore and Phuket where there is a growth in the charter market , as well as for pre-owned vessels .”
The growth can be attributed to a combination of things including better infrastructure and supply of services in the region , together with governmental support of many countries ( especially Indonesia , Singapore , Malaysia and Thailand ).
“ The owners themselves are seeing and discovering the beauty and accessibility of our cruising around South East Asian water which is among some of the most unique and beautiful waters in the world ,” says Yongsakul , adding , “ often with
10 August 2017