Turkey’s Growing Millionaire Population Boost Sales of Large Yachts

Gulf Craft, the Middle east based boat builder has its sights set on the Turkish market with its focus on larger-sized yachts.

The capital of Turkey, Istanbul, recently claimed the distinction of being home to the Middle East’s largest number of millionaires, with 35,000 millionaires in residence in the city alone.

For many of them a yacht is the perfect way to enjoy the photogenic city’s chief charm – its prime waterfront location.
Exhibiting for the very first time at the CNR Eurasia Boat Show in Istanbul Sky Yachting, the company’s exclusive distributer in Turkey will display the Majesty 56.
Their dealer which takes place from February 14-23 at the show held at the CNR Expo Istanbul began on Feb 14th and runs through until 23rd Feb.
With a coast spanning the Black, Aegean and Mediterranean Seas Turkey has an incredibly robust boating and yachting scene.
“It’s a market that is price and quality sensitive and we are looking at capitalising on the potential it offers.  Our local partners Sky Yachting have a strong reach and respected history in the market along with a reliable technical team,” said Erwin Bamps, Chief Operating Officer at Gulf Craft.
Orhan Ulgur, of Sky Yachting, reports that the swelling ranks of wealthy Turks is seeing a corresponding rise in demand for larger sized yachts, with the 15m-22m category in particular enjoying interest.
 The trend he says is spilling over into the larger superyacht category with inquiries up to 40m.
Turkey has to date been dominated by a number of European yacht manufacturing brands but it is a market that is appreciative of innovative and semi-customized high-value products.

Ulgur says, “We have an aggressive 3-year plan in place to promote Gulf Craft in Istanbul, the Levant and Bodrum Marina with an aim to grow Gulf Craft’s market share by 10% and place it within the top three yacht brands in Turkey.”