According to industry reports, the number of superyachts in the Asia-Pacific region has seen a notable uptick, with an average of 100 superyachts over 30m visiting the region each month – and this figure is growing.
Hong Kong is home to over 100 superyachts larger than 30m, following a 10% increase in registrations during the last fiscal year. This is a sign of the growing interest among wealthy individuals in Asia for luxury maritime experiences.
I attribute this growth to several factors, most notably the region’s expanding affluence and a cultural shift towards embracing the exclusive yachting lifestyle. Asia has become a hotspot for superyacht enthusiasts, with over 25,000 islands to explore, due in large to two of the world’s biggest archipelagos, Indonesia and the Philippines.
There’s a diversity of unspoiled nature that attracts yacht owners willing to explore more unchartered waters, with the region offering the allure of exploring pristine coastlines and secluded island paradises.
Hong Kong, China and other APAC countries like Singapore, Thailand and Indonesia have taken the lead in the region’s superyacht markets, but they are not far behind. Australia is a superyacht industry that has already matured and developed, but still offers significant growth potential.
In fact, we’re witnessing a diversification of interest across the region. Clients are not just seeking a vessel; they’re investing in a one-of-a-kind life fulfilment experience, with a superyacht opening a whole world of opportunities for them.
In terms of vessel preferences, there’s a notable trend towards larger, more technologically advanced superyachts with alternative propulsion systems.
Superyachts in Asia with eco-friendly technology, such as the recently introduced methanol fuel cells, or alternative generators powered by wind turbines and panels, are increasingly popular with discerning buyers.
This is in line with the global trend of sustainability and innovation within the superyacht sector.
The ongoing global supply disruptions have posed challenges to the timely delivery superyachts into Asia. The pandemic exposed weaknesses in the supply chain and affected production schedules. To meet the rising demand, the industry is actively working to address this hurdle.
The answer to long waiting times can be a quality brokerage superyacht, as there’s currently good market availability in the 40-50m and 50-80m segments. Simpson Superyachts’ 44.5m sold over the summer. Kamakasa, which was delivered in 2020 and is the second hull of Sanlorenzo’s successful Alloy series.
I’m optimistic about the continued growth of the Asia-Pacific superyacht market. The potential of this region is enormous. As we navigate the challenges linked to inconsistent regulations and lack of quality superyacht marina berths in some key locations, we’re also presented with opportunities to redefine the luxury yachting experience in collaboration with our clients in Asia.
Clayton, now based out of Hong Kong, is the Sales Director at Simpson Superyachts. This company is a part Simpson Marine Group. He has over 20 years of yachting experience, including eight years as the General Manager Americas of Benetti. He also has extensive knowledge of the Asian market having lived in Malaysia and Singapore for many years.
james.clayton@simpsonmarine.com
www.simpsonsuperyachts.com
This article was originally published on yachtstyle.co
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