Dubai International Boat Show growth represents regional marine industry [CPI Financial]
(CPI Financial Via Acquire Media NewsEdge) Dubai International Boat Show 2014 has experienced growth in tandem with the Middle East maritime market's surge in growth due to a range of factors including major coastal developments, soaring consumer confidence and accelerated boat manufacturing activity. Hosting Expo 2020 is also set to have a significant impact on the marine industry in Dubai and the UAE, acting as a catalyst for economic growth, marine industry experts say.
Show growth is evidenced by a 20 per cent participation of new exhibitors among the 750 companies and brands at the show and 42 global and regional premiers that are scheduled to take place. In addition, over 430 boats valued at AED 1.8 billion will be displayed at the 22nd edition of the show. Dubai International Boat Show organisers have confirmed 30 luxury boats exceeding 21 metres, which includes 19 spectacular superyachts.
The Dubai International Boat Show 2014, the region's leading leisure marine event organised by Dubai World Trade Centre, is expected to draw 26,000 visitors from 70 countries from 4-8 March at Dubai International Marine Club, Mina Seyahi. Reflecting growing international interest in the Middle East as a key maritime market, over 70 per cent of exhibiting companies come from overseas, highlighting the show's international status. Participating exhibitors hail from more than 50 countries including the Maldives and the Philippines for the first time.
One of the show's main attractions is the 88.5-metre-long superyacht Nirvana, built by Oceanco and exhibited by Edmiston, at the stunning Marina Display area. Nirvana is one of the world's top 50 longest superyachts and the exhibition's largest-ever superyacht to date. Nirvana is crafted using the world's most exquisite materials and features two helipads, six decks, a stage for live performances, a 3D cinema and more. It has a range of 6,800 nautical miles, a maximum speed of 19.5 knots and can accommodate 12 guests in 6 cabins with 27 onboard crew.
Plans for the world's largest and fastest-ever all-aluminium yacht, the SILVER-FAST 77m, which is currently under construction, will be announced by UAE-based BehneMar Yachting Consultancy. The SILVER-FAST 77m will be fourth in the company's Silver Yachts line, complemented by the locally-built 85-foot-long Blue Dubai Dhow.
Strong Maritime Growth
Boat building is a key driver of growth in the maritime industry, as UAE luxury yacht builders plan to build 18 superyachts – those 24 metres and longer – exceeding 850 metres in total, as reported by US-based ShowBoats International Global Order Book 2014. The definitive guide to the world's luxury superyacht industry ranked the UAE as the world's ninth most productive manufacturers of superyachts.
Market research undertaken by Dubai Maritime City Authority reveals that Dubai's maritime sector is a major income generator for the Emirate, contributing AED 14.4 billion to Dubai's GDP and supporting more than 75,000 job opportunities across the UAE due to integrated infrastructure, world-class maritime regulations and services.
With boat purchases highly correlated with consumer confidence and gross domestic product, the MasterCard Index of Consumer Confidence scored the UAE's consumer sentiment levels at 94.7 with UAE consumers "extremely optimistic" over all five indicators, which includes regular income, quality of life, employment, economy and stock market.
His Excellency Helal Saeed Almarri, Director General, Dubai Department of Tourism and Commerce Marketing (DTCM) and CEO, Dubai World Trade Centre, said: "Dubai's role as a highly influential maritime hub has gone from strength to strength, with the 22nd edition of Dubai International Boat Show continuing to set the bar higher year-on-year. Undoubtedly the show has served as a cornerstone by bringing together the best the industry has to offer on a globally visible platform to drive the regional boating industry. We are extremely confident that the event's, and indeed the industry's, futures are extremely robust."
Saeed Hareb, Vice President, Dubai International Marine Club and Senior Advisor, Dubai International Boat Show, said: "Dubai is set to become the world's leisure maritime capital, thanks to modern marina facilities, strong maritime tourism infrastructure, and increasingly-knowledgeable boat-buying customers. Dubai cementing its status as a hub for mega-events is making a major impact on the leisure maritime market, with millions of visitors wanting to experience the UAE from the water."
According to research by ART Marine Marinas Division, the UAE currently has 30 marinas and 4,816 berths, and 64 marinas and 12,629 berths in the GCC overall, with the UAE accounting for 38 per cent of the entire GCC marina berthing market.
The Dubai International Boat Show will host 16 UAE-based boat builders. UAE-based Gulf Craft, one of the world's top 10 superyacht manufacturers, will bring eight boats to the show. Over the last two years, Gulf Craft reports that orders for small boats (9-13 metres long) have tripled while superyacht orders are also posting strong growth.
'With the recent breaking ground of a number of remarkable infrastructure and waterfront real estate projects like the Dubai Canal, marine community lifestyle stays very much at the heart of the on-going Dubai developments," said Erwin Bamps, COO, Gulf Craft. "It is the drive behind the recent upturn in demand for smaller leisure craft as well as mid-size fly-bridge yachts in the local market, with residents of the Emirate displaying a natural affinity for on-water living and entertainment.'
The "UAE Inspired" Pavilion will give a boost to small-to-medium-sized UAE-based boat builders: Al Rubban Marine, Al Shaali Group, Julfar Craft, Ocean Boats, and National Marine Alliance. The Ajman-based Al Shaali Group will conduct a global boat launch and will bring a line of boats to the Dubai International Boat Show 2014.
"Dubai International Boat Show is the one and only gathering of all stakeholders in the region's marine industry," said Sultan A. Alshaali, CEO, Alshaali Group. "Whether you are a manufacturer, supplier, broker, or a yacht owner, you cannot miss out on this magnificent event, which has been and will always be the main boat show in the Middle East and GCC, driving the marine industry to constantly develop products and services."
Middle East as Key International Maritime Market
Exhibitors, including the UAE-based ART MARINE, the Middle East's largest 360-degree leisure yachting enterprise, are looking forward to interacting with international clientele.
"The Dubai International Boat Show is always an important event for ART MARINE, and 2014 will be no different," said Gregor Stinner, CEO, ART MARINE. "The show provides us with the perfect platform to promote our offering to the discerning Middle East customers, and indeed to the customers from all over the world that attend in vast numbers."
Stinner continued: "Dubai is one of the major hubs for boating enthusiasts in the region, and the show is therefore a key event for us when it comes to reaching new clients and further expanding our business network. Every year sees more and more buyers enter the market, so it is vitally important for ART MARINE to be seen at one of the Middle East's most prestigious marine and leisure events."
Longstanding maritime markets such as the United States are positioning for greater growth in the Middle East, with American exhibitors leasing 35 per cent more space compared to the 2013 edition. Key American exhibitor, Enterprise Florida, the state's economic development organisation for over 58,000 businesses, as part of its promotion of international trade will attend the show this year.
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