Coupling the demand with renewed market strength, and a commitment to expanding infrastructure in new destinations means there is more space and possibilities than ever before. Still relatively in its infancy, the Singapore Yacht Show has begun to really expand its reach with more superyachts visiting than ever before. Whilst on site at the show this year, Mykolas Rambus, CEO at Wealth-X commented "I think it's exciting that the show is here because there is so much happening in south-east and even north Asia, that I think the region has often been overlooked". Growing every year and quickly becoming regarded as the Asian superyacht show to attend, Singapore looks set to become a burgeoning location for superyachts in the future. More so than parts of China where the cruising pales in comparison and regulations can be a minefield; some of the best diving and remote islands are easily within reach of this south-east Asian hub with people quickly catching on.
Singapore Yacht Show 2014
Another two countries to watch - Turkey and Croatia have been quietly working behind the scenes to better cater to the larger yacht market. Turkey has a number of shipyards already in operation, with more luxury marinas, such as Palmarina Bodrum going above and beyond to ensure clients receive the utmost in luxury accommodations. While NCP Shipyard in Croatia has recently become a member of the ICOMIA Refit Group, looking to offer a range of services when people cruise through, with the added bonus of D-Marin Manadlina marina next door, offering ease to those visiting.
With some of the more established markets in Europe and North America still struggling to return to pre-recession norms, it may be shocking that so many smaller economies are able to open their doors and operate under such conditions. However, Oliver Corlette, managing director at Porto Montenegro believes, "I think in some ways, the crisis of 2008 was good for those of us off the beaten track. It provided an opportunity for clients to take stock and reevaluate whether they were getting value for money in their usual spots".
Emerging markets truly saw their opportunity and seized it this year; so where will 2015 take us?