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Middle East super-rich shopping for Yachts and Jets

Middle East super-rich shopping for Yachts and Jets

The super-rich of the Middle East  are out shopping for superyachts and private jets despite the turbulent global economy with number of exhibitors and attendees at the Dubai International Boat Show and Abu Dhabi Air Expo both strong in 2013.

The number of vessels displayed at the Dubai International Boat Show are up approximately 10 per cent on last year indicating a perceived increase in the luxury market place throughout the region. This year more than 26,000 attendees are expected at the show, considered the leading and most established platform in the Middle East for global product launches and yacht launches by the world’s leading brands, attracting a multi million dollar sales record from previous years.

Gulf Craft which is the only maker of superyachts in the United Arab Emirates has also announced the commencement of the largest project to date, a 155-foot superyacht scheduled for completion in 2015. This is 20ft longer than its current longest model.

Aircraft Demand

The demand for private and executive jets in the Middle East is also growing, especially in Arabian Gulf states such as the UAE. Yesterday as the Abu Dhabi Air Expo commenced, a strong turnout of manufacturers and customers convened displaying a confidence in the market and that the global recession was long past. The Expo runs for 3 days over the 5th, 6th and 7th March at the Al Bateen Executive Airport.

Abu Dhabi Air-Expo1

Abu Dhubai Air ExpoAbu Dhabi Air Expo



Annual sales of overhauled second-hand and new aircraft are expected to double to US$35 billion (Dh128.55bn) by 2030, and the annual global growth rate in the years between 2010 and 2030 will amount to about 4 per cent, according to a study by Roland Berger Strategy Consultants. “Countries like the UAE are driving this growth and will even exceed the region’s growth rate,” said Holger Lipowsky, the project manager at Roland Berger.

Private jet-charter companies are also reporting a rebound. Royal Jet, the Abu Dhabi-based private plane operator said revenues for its Gulfstream aircraft rose 27 per cent last year, while income for its Boeing Business Jets increased 6 per cent.



Dubai International Boat Show


21st Dubai International Boat Show, the leading yacht event in the Middle East and one of the most eagerly-awaited marine fair’s in the world. March 5th – 9th 2013 at Dubai International Marine Club, Mina Seyahi



Read more:

Video Highlights from 2012 Dubai Boat Show

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