Among the 10 fastest-growing countries listed in the wealth 2021 report released by real estate agency Knight Frank, China saw the largest increase in the number of ultra-high net worth individuals (UHNWIs) at 16 percent, Forbes reported. Another recent book, The Pacific Superyacht Report, examines the dynamics and potential of the Chinese Superyacht market from a buyer's perspective.
Few markets offer the same growth opportunities for the superyacht industry as China, the report said. China is at a relatively early stage of yacht development in terms of domestic infrastructure and number of ownership and has a large pool of potential superyacht buyers.
According to the report, in the asia-pacific region in the post-COVID-19 era, 2021 is likely to see the following five trends:
The market for catamarans is likely to grow.
Interest in local yacht chartering has surged because of travel restrictions.
Yachts with ship control and autopilot are more popular.
Outboard launches for families continue to grow.
Demand for superyachts is growing in Asia.
In addition to travel restrictions and rapid growth due to the pandemic, there are two underlying phenomena driving the Asian superyacht market: the first is the transfer of wealth from one generation to the next. High net worth individuals have accumulated huge wealth in Asia over the past 25 years and will pass it on over the next decade. The second is the influencer generation seeking unique experiences. That's good news for The superyacht industry in Asia, where tastes have begun to tilt toward larger and larger vessels. More and more local boat owners want to use their boats in Asia. While these boats are typically smaller than the superyachts of the Mediterranean that is beginning to change as owners become more comfortable with ownership and the flexibility and security that comes with having their own floating home.
Post time: Nov-23-2021