Potential of Asian market discussed at Asia Superyacht Conference
The third annual Asia Superyacht Conference has given industry professionals the opportunity to discuss the potential of the Asian superyacht market. It is believed the industry can expand its market share by appealing to the growing number of UHNWIs in the region.…
Asia’s superyacht market has the potential to profit from the area’s burgeoning personal wealth, and this was an issue discussed at the third annual Asia Superyacht Conference, held at Singapore’s Oneo15 Marina Club.
According to Bart J. Kimman, Managing Director of Northrop and Johnson Asia, there is room for Asia’s yacht builders to grow: “There are many yacht builders in Asia that are known for their benchmark in quality and their reputation for building solid yachts, and they have a loyal customer base. With Singapore’s experience in commercial ship-building, I think Singapore has the craftsmanship and expertise to become a hub in this region for building superyachts.”
Tork Buckley, The Superyacht Report’s Asia Editor, knows of one Asian buyer who is purchasing a superyacht from a China yacht builder. “It is about marketing and building the brand. They [Asian yacht builders] need to build association with luxury goods events and brands, and be part of shows that are associated with luxury,” said Buckley, who envisions a sea-change in the superyacht market, with more focus on Asian builders in the next 5 to 10 years.
Events like the Singapore Yacht Show shine the spotlight on Asia as the next big cruising destination for superyachts from the West, and showcase Asia as an important future marketplace for the superyacht industry. One of the principal factors that would attract superyachts to the region would be the advent of a comprehensive superyacht repair and refit service to cater for these visiting vessels. The Superyacht Singapore Association (SSA) is actively looking at upping the island-state’s capabilities in this area. “Having high-quality, dedicated repair and refit services will help attract more superyachts to this region. Singapore’s strategic location and expertise in commercial ship repair places us in a great position to tap into this market, and build our reputation as a superyacht destination,” said Jean-Jacques Lavigne, Executive Director, SSA.
WM
Related Links
Singapore Superyacht Association Website
Asia Superyacht Conference Website
According to Bart J. Kimman, Managing Director of Northrop and Johnson Asia, there is room for Asia’s yacht builders to grow: “There are many yacht builders in Asia that are known for their benchmark in quality and their reputation for building solid yachts, and they have a loyal customer base. With Singapore’s experience in commercial ship-building, I think Singapore has the craftsmanship and expertise to become a hub in this region for building superyachts.”
Tork Buckley, The Superyacht Report’s Asia Editor, knows of one Asian buyer who is purchasing a superyacht from a China yacht builder. “It is about marketing and building the brand. They [Asian yacht builders] need to build association with luxury goods events and brands, and be part of shows that are associated with luxury,” said Buckley, who envisions a sea-change in the superyacht market, with more focus on Asian builders in the next 5 to 10 years.
Events like the Singapore Yacht Show shine the spotlight on Asia as the next big cruising destination for superyachts from the West, and showcase Asia as an important future marketplace for the superyacht industry. One of the principal factors that would attract superyachts to the region would be the advent of a comprehensive superyacht repair and refit service to cater for these visiting vessels. The Superyacht Singapore Association (SSA) is actively looking at upping the island-state’s capabilities in this area. “Having high-quality, dedicated repair and refit services will help attract more superyachts to this region. Singapore’s strategic location and expertise in commercial ship repair places us in a great position to tap into this market, and build our reputation as a superyacht destination,” said Jean-Jacques Lavigne, Executive Director, SSA.
WM
Related Links
Singapore Superyacht Association Website
Asia Superyacht Conference Website
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