Asia Pacific Superyacht Conference Signals Market Growth in Area

The Asia Pacific Superyacht Conference opens today.  It is a 2 day event and has become over the years an increasingly important platform for superyacht industry professionals to scope out the business opportunities in Asia Pacific.

Taking place just before the Singapore Yacht Show it offers an international line-up of key yacht industry players, together with plenty of networking opportunities and an opportunity to learn more about this up and coming region. 

Last years conference, set a clear mandate to all superyacht industry players in Asia Pacific, which was to collaborate and work together to promote the Asia Pacific region as a yachting destination.

Then, over 150 delegates from 35 countries agreed that Asia Pacific has some of the most exotic, yet untapped cruising grounds in the world. The region has huge potential to attract new customers into superyacht ownership and yacht charter, and there is an increasing number of superyacht construction and refit businesses.

Simon Turner, the Singapore-based director of yacht brokers Northrop and Johnson, has proof that the wealthy in Asia think little of spending on a big boat, which they buy for both prestige and fun.  He told reporters working for Reuters, “We had a guy turn up a few weeks ago in a Lamborghini and say ‘Look, my friend has just bought the same Lamborghini. What can we do different?  So we got some boat brochures out and he said ‘I’ll buy one’. It was a $10 million yacht deal was done in just minutes”

Less than 5 percent of the world superyacht fleet is based in Asia yet the figures are on the rise.  With western economies faltering Asia has sailed along calmly growing as it does so. According to a report into World Wealth published by Merrill Lynch-Capgemini, Asia has 3.3 million people with high net worth, a figure one point behind the 3.4 million in North America but ahead of the 3.1 million in Europe.