Superyacht study finds Middle Eastern owners dominate
Motorboat & Yachting: According to a new study about superyacht ownership, the report has found that Middle Eastern owners own a large proportion of most luxurious and longest vessels in the world.
A market survey by the Superyacht Builders Association has found that Middle Eastern owners still dominates. A grand total of 193 superyachts are owned by high-net-worth individuals from the Middle East, representing 12% of the global fleet of vessels measuring 131ft or longer.
The study also found that the average length of a superyacht owned by a Middle Eastern is 206ft long. This figure is dwarfed by the world’s largest superyacht Azzam which measures 180m from bow to sternowned owned by UAE president Sheik Khalifa bin Zayed Al Nahyan.
The industry is still booming, with 755 superyachts over 24m are currently under construction, compared to 734 superyachts last year.
“The demand for superyachts from the Middle East can be classified as fairly stable over the years, while others may have been more volatile. The historic demand from this region has been vital for the growth of this sector,” said secretary general of the Superyacht Builders Association, Theo Hooning.