As regional economies continue to experience high consumer confidence, the demand for luxury goods and services has grown, culminating in the largest number of international companies descending on Dubai for the highly anticipated 21st Dubai International Boat Show March 5th to 9th, 2013.
The show has over 563 international companies and brands participating, exhibitors from more than 49 countries and debut appearances from Malta, Armenia and Malaysia. The United States, Turkey and Italy have increased their presence with Turkey having the biggest confirmed exhibition space.
Commenting on the greater participation from Turkey this year, Sebahattin Hafizoglu, Founder and Chairman of Vicem Yachts, said: “The annual Dubai International Boat Show is among the world’s very best platforms for Turkish companies like ours to sell to Gulf buyers of luxury leisure marine products and services. As Turkey has expanded its exhibition space by more than eight times this year, Vicem Yachts has also increased its presence significantly, in line with our belief that there is demonstrated demand for superyachts of our calibre in the Middle East.”
The United States and Italy have increased their total exhibition space by 110% and 47% respectively. A new Florida pavilion signifies a greater demand for American-made products and leisure crafts, with a 200% increase in products overall from the United States. Enterprise Florida, the official economic development organisation for the state of Florida, returns to the show after a three-year hiatus.
In the Luxury Supplies and Services (LSS) section of the show, there are international exhibitors from Egypt, France, Germany, Italy, Oman, Monaco, Netherlands, Turkey, UAE, UK and US with 10 of the new exhibitors from Turkey.
Other sectors of the show have shown strong international interest – the Equipment Supplies and Services (ESS) will have more than 311 international companies and brands showcasing a complete range of marine products essential to the supply and servicing of the leisure marine industry, making it the largest and most comprehensive marine equipment exhibition in the MENA region.
Trixee Loh, Senior Vice President of Dubai World Trade Centre, organiser of Dubai International Boat Show said, “The Dubai International Boat Show increasingly appeals to a global audience, and is particularly relevant for marine leisure enthusiasts across the Middle East, through to Asia, the US and parts of Europe. Dubai continues its remarkable momentum in the regional marine industry, which has resulted in increased international attraction to the destination and Dubai securing its position as a marine hub. For participating international and regional companies and brands, there is significantscope for business development and the show’s expanding geographical reach illustrates its importance in the global leisure marine market.”
Keen interest from the Middle East’s growing number of high net worth individuals is again expected at the Dubai International Boat Show where major luxury brands and equipment are showcased. According to a recent Boston Consulting Group, Saudi Arabia, Kuwait, Qatar and the UAE are among the world’s top 10 countries with the highest density of ultra-wealthy households.
The Dubai International Boat Show also attracts buyers from Asia and particularly India, China and Turkey. According to a 2012 GCC and regional boating market report by marine industry consultancy Mike Derrett Marine, the strong business and social connections between India, the Gulf States and Europe have resulted in many Indians being exposed to the growing boating lifestyles in these markets with these individuals eager to purchase luxury boats.
