The Middle East is home to almost a third of the
The yachting market in the Middle East, comprising the build-up and purchase of new yachts, as well as the booking of yacht charters, is large and expanding. The market has been experiencing an approximate annual growth of 5 - 10%, according to a recent report by Smart Research Insights.
The Middle East is the most important Superyacht (40 meters and above) market globally
The affluence of the Middle East is shifting the industry dynamics towards this region, owing to the larger share of wealthy clientele
UHNWI population in the Middle East
The increasing population of high-net-worth individuals (HNWI) and ultra-high-net-worth individuals (UHNWI) in the Middle East, will further stimulate demand for yachts.
Approximately 410,000 HNWIs are living in the Middle East, with combined wealth holdings of $2.1 trillion, according to the Middle East 2017 Wealth Report.
The ultra-wealthy population is forecast to grow by 39% over the next decade
A destination for lush living and nautical lifestyle
Lebanon is the hub for high-end living with a strong portfolio of designer creations and international labels to compliment the lifestyles of privileged customers. According to the Lebanese Franchise Association Report, the indicator for luxury goods went up by 6.11% in 2016 compared to 2015. With more than 1,000 berths receiving boats from the GCC, Cyprus, Turkey and Greece all-year round, the country’s marinas continue to attract maritime devotees.