Evaluating the potential of growth in the Gulf region
The Dubai International Superyacht Summit will map a coherent strategy for attracting superyachts to the region…
On 27th February, during the Dubai International Boat Show, the superyacht industry will gather aboard QE2 in Dubai to evaluate the current status of the Gulf as a growing regional market, at the second edition of the Dubai International Superyacht Summit (DISS) under the patronage of P&O Marinas and media partners, The Superyacht Group.
Over the course of two days, those in attendance will help to formulate a coherent strategy for attracting superyachts to the region.
As investment in the region continues to grow, the premise for discussion over the two days will be the true potential of the region as a multifaceted superyacht market, understanding what it is that may be hindering this growth and how to overcome these potentially stifling forces. Chaired by The Superyacht Group’s Martin Redmayne, DISS marks a watershed moment for an area of the superyacht market that holds vast potential.
Leading up to the event, The Superyacht Group undertook a campaign to gauge what common misconceptions, misunderstandings and opinions of the region as a superyacht destination really are. We asked those who have experience of cruising, servicing or managing yachts in the Gulf to share their opinions on its current status and views on what would make the Gulf a serious proposition, many of which are to be discussed during the event.
While there was a significant portion of constructive criticism, the survey results did allude to the fact that the region is considered to hold a great deal of potential, with over 83 per cent of participants saying that they did foresee an increasing market within the Gulf.
While there was a significant portion of constructive criticism, the survey results did allude to the fact that the region is considered to hold a great deal of potential, with over 83 per cent of participants saying that they did foresee an increasing market within the Gulf.
Following last year’s inaugural summit, a number of superyacht-focused initiatives have been, and are continuing to take hold, including the development of Dubai Harbour, a 1,100-berth project, with a planned completion date of 2020.
Marine tourism is undoubtedly a central pillar for growth within the Gulf Region, which is why there is an urgency for such plans being put into action. The population of UHNWIs in the UAE has seen monumental growth in recent decades, and its status as a legitimate regional client pool will dictate the direction of dialogue during DISS, as participants evaluate whether improvements to infrastructure, legislation and other superyacht-specific factors can create the optimal regional market model.
Over the course of the two days, meetings, discussions and knowledge transfer among a whole host of relevant stakeholders will continue to strengthen the superyacht framework in the Gulf region so that maritime authorities, government departments, and investors in the Gulf region, can look to implement the recommendations.
For more information on the Summit and for the full programme and speaker profiles, follow this link.
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