UHNWIs look abroad to build their superyachts, says Global Order Book
Whilst, according to CNBC.com, the US, China and the UK house more billionaires than anyone else, it is Italy, Turkey and the Netherlands that entice them to build their superyachts there according to The Superyacht Intelligence Global Order Book.…
CNBC.com has published an article detailing the ‘Top 10 Billionaire Countries’, showing where world’s one-percenters are located. And whilst the list itself contains no surprises, its order is not reflected in that of the superyacht Global Order Book, as published in The Superyacht Annual Report.
America still leads the way, with 480 billionaires possessing a cumulative wealth of $2.05 trillion. That’s more than double the number of second placed China, with 147 billionaires. And yet both sets of UHNWIs appear to be spending their wealth elsewhere, at least in terms of superyachts. Because, according to The Superyacht Intelligence Global Order Book 2013, only eight per cent of superyachts in build are under construction in American yards, whilst only seven superyachts are in build in Mainland China.
The same is true of third ranked country, United Kingdom, which has just four per cent of the global order book, despite housing 140 billionaires.
Whilst Germany only comprises six per cent of the order book, whilst ranked fourth in the billionaires list, it is something of an anomaly as the yachts it has in build are all towards the top end of the LOA spectrum, including what will be the world’s largest superyacht, Lürssen’s Project Azzam.
The “famous Dutch quality”, is something Heesen’s sales and marketing director, Fabio Ermetto, acknowledges as a key strength to its superior market position but he also highlights favourable government policies and heavy investment in the sector as helping it to sustain the country’s reputation. These are considerations that will, no doubt, be the envy of builders in other countries.
The Superyacht Annual Report is recognised by the market as the most influential and powerful business tool available to the superyacht industry. If you are a paying subscriber you will automatically get your copy.
However If you are not, we recommend that you contact our Subscriptions team to check the status of your subscription, or to sign up now, either click here to visit our subscriptions page or send a short email to Holly@thesuperyachtgroup.com so she can contact you by return to start your subscription immediately.
Related Links
Lürssen Profile | Lürssen Website
Christensen Profile | Christensen Website
Horizon Profile | Horizon Website
Heesen Profile | Heesen Website
America still leads the way, with 480 billionaires possessing a cumulative wealth of $2.05 trillion. That’s more than double the number of second placed China, with 147 billionaires. And yet both sets of UHNWIs appear to be spending their wealth elsewhere, at least in terms of superyachts. Because, according to The Superyacht Intelligence Global Order Book 2013, only eight per cent of superyachts in build are under construction in American yards, whilst only seven superyachts are in build in Mainland China.
The same is true of third ranked country, United Kingdom, which has just four per cent of the global order book, despite housing 140 billionaires.
Whilst Germany only comprises six per cent of the order book, whilst ranked fourth in the billionaires list, it is something of an anomaly as the yachts it has in build are all towards the top end of the LOA spectrum, including what will be the world’s largest superyacht, Lürssen’s Project Azzam.
Project Azzam, the largest superyacht in the Global Order Book. Image courtesy of Claus Schaefe.
But it is three countries that reside outside the billionaires top 10 that are building the lion’s share of the current order book. Italy (36 per cent), Netherlands (12.5 per cent) and Turkey (12.5 per cent) are building more superyachts than the rest of the world’s shipyard put together. So why are UHNWIs continually looking beyond their borders for the construction of a superyacht? The obvious answer is perceived expertise, or as Christensen’s Joe Foggia put it, “The Netherlands…still sell[s] the mystique of Dutch quality.” Similarly Horizon’s general manager, James Fwu, also believes the Dutch and Italian yards are the biggest inhibitors of Asian growth. “Many Asian UHNWIs”, he says, “are buying known brand names above anything else.”The “famous Dutch quality”, is something Heesen’s sales and marketing director, Fabio Ermetto, acknowledges as a key strength to its superior market position but he also highlights favourable government policies and heavy investment in the sector as helping it to sustain the country’s reputation. These are considerations that will, no doubt, be the envy of builders in other countries.
The Superyacht Annual Report is recognised by the market as the most influential and powerful business tool available to the superyacht industry. If you are a paying subscriber you will automatically get your copy.
However If you are not, we recommend that you contact our Subscriptions team to check the status of your subscription, or to sign up now, either click here to visit our subscriptions page or send a short email to Holly@thesuperyachtgroup.com so she can contact you by return to start your subscription immediately.
Related Links
Lürssen Profile | Lürssen Website
Christensen Profile | Christensen Website
Horizon Profile | Horizon Website
Heesen Profile | Heesen Website
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