Dubai International Boat Show gets underway next week, with the Middle East continuing to be a key marketplace for the wealthiest of yacht owners
Dubai International Boat Show gets underway next week, with the Middle East continuing to be a key marketplace for the wealthiest of yacht owners, with 216 superyachts registered in the region.
The show, welcoming no fewer than 450 yachts and boats from around the world to the Dubai Canal, will open on February 26 and run to March 2, and will have AED1.5 billion ($410 million) worth of boats for sale.
It will host a combined 38 global and regional launches and will welcome more than 800 different companies and brands from 50 countries.
The show is being held as the global recreational boating market is experiencing an upswing, with growing interest in leisure activities such as fishing, sailing and watersports guiding the boating industry to a projected worth of $74.7 billion by 2022.
In the UAE alone, the industry was valued at approximately up to $1.5 billion last year.
The region as a whole is investing heavily in its maritime offering, with the UAE accounting for 35 percent of that total investment.
Manufacturers report that they are seeing an increase in demand for leisure boats and superyachts alike throughout the Gulf. To accommodate this growing maritime market, nearly $65 billion was invested in ports across the UAE in 2018.
Trixie LohMirmand, senior vice president, Exhibition and Events Management of Dubai World Trade Centre, said: "Now in its 27th year, the Dubai International Boat Show has organically developed into a pivotal industry event, attracting exhibitors and buyers from around the world. We are thrilled to be the epicentre of all things sea and ocean, and to act as an international platform for the global recreational boating community on all levels."