MIDDLE EAST’S EMERGING MARKET FOR HIGH-END SUPERYACHT SERVICES

December 5, 2023

The superyacht industry is experiencing a transformative wave of growth in the Gulf region, particularly in the United Arab Emirates (UAE). With our new hubs in the region and two decades of expertise in yachting services for the Mediterranean, we’re on a missionresearching, cataloging and refining services to meet the growing demand for unparalleled services in the region.

 

Riding the economic wave

The Gulf region, and the UAE in particular, has experienced remarkable economic growth since the early 2000s. This surge has increased the number of superyachts in the region, making the Gulf a global hub for luxury tourism. Cities such as Dubai have invested heavily in marina infrastructure, attracting wealthy visitors and boosting local demand for superyachts.

 

Emerging Hotspots

The UAE is currently the most established superyacht market in the region, with Dubai and Abu Dhabi serving as key hubs. Its strategic location, tax-free business environment and world-class infrastructure make the UAE an attractive destination for superyacht enthusiasts. The continued influx of industry professionals and clients from around the world, attracted by year-round events and boat shows, further solidifies the UAE’s position.

Looking beyond the UAE, Saudi Arabia, Qatar, Oman and Bahrain are emerging as major players in the superyacht market. The rise in the number of millionaires and billionaires in these countries has fueled a growing demand for luxury yachts, presenting untapped opportunities for industry players.

 

Challenges in the Middle East

Superyacht trends in the Gulf are strongly influenced by nationality and culture. The region’s discerning clientele expects the epitome of luxury and comfort, and demands the same level of service on board and in ports of call.

In fact, despite the exponential growth, the Middle East still faces a shortage of support service companies for the day-to-day operations essential to superyachts. While Dubai and Abu Dhabi boast high demand due to long-term yacht stays and a concentration of owners, other countries such as Oman and Saudi Arabia struggle to meet this demand for skilled professionals, including interior designers, electricians, painters and carpenters.

 

Acquera’s Mission:

In response to these challenges, Acquera has made it our mission to comprehensively research, catalog and filter all service providers. We’re committed to identifying and working with the best in the industry to fill gaps and turn challenges into opportunities. By facilitating collaborations that enhance the growth of the market, Acquera aims to raise the standards of the superyacht industry in all regions of the Middle East.

As the Gulf region continues to assert itself as a global superyacht destination, proactive efforts in research and collaboration are critical to ensuring that the industry’s growth is sustainable and reaches every corner of this dynamic market. By focusing on filling gaps and creating opportunities, we’re shaping a prosperous future for superyacht services in the Middle East.

 

 

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