The small to mid-range luxury boats market is the lifeblood of the marine industry keeping the market afloat with 80 per cent of revenue coming from them through sales and maintenance, said industry experts.
The appeal, accessibility and affordability of boats in the small to mid-sized segment compared to their larger counterparts are a key contributing factor in keeping the marine industry alive, with local and international companies using the Dubai International Boat Show as a platform to target a wealth of eager consumers during the five-day event, they stated.
Sultan Alshaali, the CEO of Al Shaali Group, said: “Small to medium-sized boats represent 20 per cent of the market but they generate 80 per cent of revenue for the entire industry.”
“If you think of it this way, one boat owner will need one service; twenty boat owners will need twenty services and so on. So this is actually what’s keeping the industry alive.”
With over 800 brands and companies represented from more than 60 countries at the 25th edition of the Dubai International Boat Show, there was a wealth of products on display to cater for an array of customers with different budgets.
A host of exhibitors – both local and international manufacturers – used Dubai International Boat Show as a key platform to boost sales, stated the organisers.
They showcased the latest products targeting the largest segment of the luxury boating market, they added.
“We’ve always paid attention to this diversity and never focussed solely on megayachts. The medium sized boats are faster to build and turn around, and if you go to any marina, be it in Dubai or worldwide, you’ll find that less than 5 per cent of the boats are megayachts with the small and medium segment being the lions share,” stated Alshaali.
“Marinas recognise the importance of this as well, as it is a driving factor for their business,” he noted.
Showcasing the Sport 348, the 43 Flybridge and the 49 Flybridge, a first for the Middle East, Princess Yachts have pinpointed the Dubai International Boat Show as a key event to target consumers of small to mid-sized vessels, making up the bulk of their sales.