The super yacht industry depressed by the global financial crisis eyeing Asian billionaires, now outnumber Europeans in search of new external signs of wealth to revive growth rates in double digits.
When it already has great brand cars, luxury apartments and a private jet, what else does he stand out? A super yacht is defined as a vessel over 24 meters. “I love owning a yacht is a home that moves and gives me a different view every day,” says Arthur Tay, a Singaporean tycoon, owner of Hye Seas II ship of 35.4 meters, moored in a marina, Sentosa, Singapore.
Group President Sutli (trade, services), Mr Tay does not wish to reveal the price of his luxury boat with a bar and flat screens. But according to a specialist, it is a pleasure to 12 million U.S. dollars (8.3 million).
In four years the number of super yachts in Asia has doubled, rising to 216, which is still very little in terms of the 7000 sailing in the world, “says French director Jean-Jacques Lavigne, CEO of the Association of super yachts Singapore (SSA). “Two factors contribute to this growth: first the strong wealth creation in Asia, then the development of infrastructure, primarily marinas good,” Mr. Lavigne analysis.
Potential Asian customers is growing faster in fact than in the rest of the world: in 2001 and over one year, the number of Asians with a fortune of over one billion U.S. dollars rose from 234 to 332, including 115 only in China, according to Forbes magazine.
Asia now focusing more billionaires than Europe (300), but remains behind the United States (413).
Asian fleet of super yachts, though reduced, still represents a sector weighing five billion dollars, if you add transactions, maintenance and crew salaries. “It is not unreasonable to think that the sector will grow at double digits over the next five years,” said Jonathan Galaviz, American economist specializing in the luxury market. “To the extent that Asian countries continue to experience tremendous growth, purchases of items of very great luxury, such as super yachts are expected to increase,” he predicts.
To take advantage of this windfall, the first yacht to Singapore Expo, initiated by Informa Yacht Group, the organizer of the Monaco Yacht Show, held last weekend. Objective: To enable manufacturers to showcase their products and yacht owners to discover the destination Singapore. “It is clear that there is a tendency here to afford such Body Jewellery . We do our best to make Singapore the hub for the super yacht industry in South-East, like Monaco for Europe, “said Andy Treadwell, CEO of Informa Yacht Group.
See yachts sailing in the waters of the region will entice buyers, “says Treadwell. “The more super yachts will come more potential customers who do not know anything yet will be attracted,” he adds.
In 2010, 81 of these super yachts are anchored in Singapore, against only 16 in 2006, according to SSA. Still limited by the lack of infrastructure, they will attend in the future easier waters of the region thanks to the many marinas under construction or planned in Singapore, China, South Korea or Indonesia.