At a time when production boatbuilders are screaming “No new boat shows!” the megayacht market hasn’t even begun to tap the avenues to reach new clients. Indeed, while superyacht yards located everywhere from Canada to Germany are still meeting with American and European yachtsmen and women, the traditional clientele, they’re seeing a big increase in inquiries from Russian and Middle Eastern buyers. As a result, they’re making a concerted effort to meet with these new customers on their own turf.
That’s one of the reasons why the new Abu Dhabi Yacht Show is being warmly welcomed. Being held March 24 to 27, 2009, the event has already received commitments from Trinity Yachts and Edmiston. It will be hosted in the one-year-old Abu Dhabi National Exhibition Centre, shown above (photo courtesy of Abu Dhabi National Exhibitions Company). The facility is comprised of 11 halls totaling 180,000 square feet and also incorporates marina space. While megayacht facilities are just starting to crop up in Abu Dhabi, judging from the rapid development going on in the city and throughout the United Arab Emirates (UAE), it makes sense for major players in the marine industry to tap the market early. Plus many Middle Easterners enjoy cruising the Med, so they wouldn’t necessarily only keep their yachts in local waters.
Another plus for the show: Its owner is Informa Yacht Group, the same firm behind the Monaco Yacht Show, which regularly attracts high-end clientele, royalty and regular citizens alike.
But why Abu Dhabi, besides the fact that it’s in the UAE? Well, it’s the capital of and second-most-populous city in the region, with a population of 900,000 — 420,000 of whom boast a net per capita wealth in excess of $17 million. Franck Dailles, Informa Yacht Group’s director, explains that the established yacht shows can sometimes be too crowded for this clientele. “Having talked to builders and shipyards, it is clear that discerning, wealthy individuals are unfamiliar with waiting in line to view a yacht and want the immediacy that a less-populated show offers,” he explains. “By targeting vetted, wealthy visitors who are acknowledged as being in the market for yachts upwards of $15 million, our show will allow exhibitors to dedicate their time and resources to important potential purchasers.”
The first day of the show will be reserved for royalty, while the rest of the show will be invitation-only. The Superyacht Cup coincides with the last day of the show, so visitors should have quite the experience.For further information on exhibiting or attending, visit the show Web site.
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