Week Ending 8th of April 2011

Some of the best shipyards and brokers in the world made their way to the Hainan Rendezvous over the weekend in order to introduce the luxury yachting lifestyle to the focal emerging market of the 2011.

With the show having only just coming to a close, the first success reports came of the event came in the form of an announcement from Azimut Yachts. The leading Italian shipyard successfully sold eight boats on the run up to and during the event; including one Azimut Grande 120 superyacht.

Albeit the confirmed number and size of the yachts sold across the show are still hazy, Azimut Yachts sold five yachts at the event none-the-less – proving that the region’s influential individuals are eagerly reaching out to embrace the luxury yachting lifestyle, even if they are starting out at a smaller level.

Before the recession, China’s booming economy was perpetuated by young, intelligent and powerful entrepreneurs which created a new generation of the super-rich. These affluent individuals still hold a strong sense of value to their millions due to the strength of the region in comparison to other countries.

With high-net-worth individuals across the globe now becoming a little less cautious about how they spend their money, superyacht focussed events in China and Southeast Asia could be the perfect platform for the superyacht industry to introduce the luxury lifestyle to a whole new market of potential clients.

Companies within the industry are already building bridges to the Far East, Yachting Partners International recently opened YPI Asia, bringing with them the largest yacht at the Hainan Rendezvous, and Gulf Craft have strengthened ties to the region after booking the Majesty 88 into the Singapore Yacht Show.

I’ll be bringing you as many updates as possible throughout April on the events and the growing demand for luxury yachting from China and Southeast Asia as reports from Hainan come in and the Singapore Yacht Show prepares to open for the first time.

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