In recent years, much has been made of the desire of superyacht owners and charter guests to explore destinations beyond the tried and tested cruising ground of the Mediterranean and the Caribbean. In The Pacific Superyacht Report, we consider the vital role that Pacific nations must play when it comes to the servicing, maintenance and operation of superyachts beyond the milk run, as well as analysing the potential of the West Coast US billionaire market, the impact of the late Paul Allen, co-founder of Microsoft, on the superyacht industry and shining a light on the US superyacht market in the lead up to Fort Lauderdale International Boat Show.
Australia is at a pivotal time in its superyacht history. With three major sporting events in South East Asia and the South Pacific within the next three years, namely the 2019 Japan Rugby World Cup (on going), the 2020 Tokyo Olympics and the 2021 America’s Cup in New Zealand, there will be a number of engaged superyacht clients in the region and Australia is well placed to cater to them as a superyacht hub, provided regulatory changes are implemented in order to allow foreign flagged vessels to charter in the region.
In the Business section we highlight the vast investment in infrastructure that is underway in Australia that will allow the region to cater to large superyachts, as well as the considering the necessary changes to legislation and the temporary structures that are already in place that will enable foreign flagged superyachts to charter in the region. From Australia superyachts have access to the islands of the South Pacific and New Zealand as well as Papua New Guinea, Indonesia and beyond to Singapore, Malaysia and Thailand.
A recent economic impact assessment study conducted by The Superyacht Agency on The Islands of Tahiti has further illustrated the significant impact that yachting may have on the region. In The Islands of Tahiti, Rachel Rowney analyses the findings of the report and considers how the region can grow and adapt to secure its superyacht future.
“Paul [Allen] had the greatest intellectual curiosity of anyone I’ve ever met,” explains David Reams, senior director of yacht operations at Vulcan Inc. “The saying in the office was not ‘Paul thinks outside the box’. Paul didn’t know where the room was that the box was in.” From having recording studios on board his vessels and hosting rock ‘n’ roll royalty to record studio albums, to exploring shipwrecks and the amazon river, Allen was not only a pioneering businessman and philanthropist, but a patron and trail blazer of the superyacht industry.
Within the pages of The Pacific Superyacht Report you’ll read a great deal about the opportunity that the Pacific Ocean presents for the superyacht market in terms of opening up new economic communities and broadening the cruising potential for owners and charter guests. However, it is also important to consider the wealth profile of this vast region. In The West Coast Ownership Report we analyse the wealth profiles of the US’s Pacific West Coast Billionaire population and compare them against more general Pacific billionaire wealth profiles, as well as analysing the characteristics of those individuals that own superyachts in these regions.
Elsewhere in the issue we showcase some of the most exciting new technologies that will be on show at METSTRADE 2019, consider the strengths of the US refit market, as well as a series of regulatory developments in the wider US, and speak with a superyacht owner turned superyacht consultant.
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