Yachting and the growth of the appeal of mega and superyachts in Asia due to the increased number of billionaires and HNWI in the region means there is increased interest in yachting trade shows.
Yacht charters are the ideal way to experience some of the most amazing attractions and regions in absolute comfort and luxury. We review some of the biggest shows in the Asia-Pacific and the continued growth and appeal of this luxury market.
The future of Superyachts in Asia-Pacific is bright
Japan has the largest yachting community in Asia, followed by Hong Kong and Singapore but emerging markets such as Thailand, Indonesia, Vietnam and the Philippines are thriving according to Asia–Pacific Superyacht Association (APSA).
Superyacht Australia CEO David Good said in 2022 that “Australia has the largest domestic fleet in the Asia Pacific and it had almost doubled in size and number during the last 12 months (of the pandemic) which shows that the allure of superyachts is only growing.
Ocean Magazine reported in 2021 that “the future is bright for the superyacht industry in Asia” and quoted the Chairman of APSA, Nigel Beatty, who was extremely positive about the industry in Asia: “When you consider where Asia is today, we have come along in leaps and bounds. And given the focus on Asia and the growing number of Asian owners, there will continue to be steady growth in Asia – relaxation of charter regulations across the Asian region would contribute to this growth.”
Benetti has been registering a boom in sales since it started focusing on the Asia-Pacific market, with revenues of over US$288 million and 75 per cent of sales coming from Greater China. In the SCMP it was reported by the luxury yacht manufacturer: “more Chinese consumers are into multifunctional spaces, which include both business and leisure space, such as places for mahjong and outdoor activities. And Chinese consumers generally prefer bigger yachts – every year the yachts are getting bigger and bigger.”
There are several high-profile yachts and boating shows across the Asia-Pacific that include lifestyle elements aimed at luxury boats, charter travel and high net worth individuals. We look at some of these must-attend events, starting with the Thailand Yacht Shows.
You can read about the most exclusive superyachts on the planet.
Growth of the superyacht market
According to Allied Market Research, the global yacht charter market is expected to reach USD $27.79 billion by 2027. The Rise in the number of private islands on cruise itineraries, an increase in the number of high-net-worth individuals, as well as a move towards sustainable power will drive the growth of the market.
Some of the trends identified in the coming years include the reduction in the use and waste of plastics and offering innovative renewable products (for example bamboo grooming kits, and organic body products.)
The industry even cashed in on the ongoing NFT hype, with the world’s first NFT superyacht selling for a reported USD $12 million! The 110-foot yacht, designed by Gregory C Marshall, will also be provided to the NFT owner in the physical form if the custom-designed superyacht (priced at USD $95 million) is covered by the buyer, and it will be built by Delta Marine in Seattle.
The company that launched the project, Cloud Yachts, said the client “will customise their superyacht in the metaverse using the first-of-its-kind augmented reality technology.”
Thailand Yacht Show 2022
The sixth edition of the Thailand Yacht Show (TYS), following postponements due to ongoing COVID restrictions, has confirmed its event in 2022 will “become the centrepiece of a new Festival of Luxury Tourism” according to the organisers. The new dates indicate the show will run from 9-12 June 2022.
The themes of yacht charters, the boating industry, and luxury lifestyle events are all on the agenda for the four planned days of the TYS.
The Thailand Yacht Show attracts industry professionals and consumers and is considered a must-visit for the luxury charter yacht business in the Asia Pacific. In 2022 the show is proposed to form part of a new Thailand Yacht Show – Where The Journey Begins Festival of Luxury Tourism event in a bid to draw in high-net-worth visitors from across the region.
“We can't wait for the Festival of Luxury Tourism 2022, encompassing a showcase of private aviation at the new Phuket Private Jet Terminal, an international classic car Concours d'Elegance; a Wellness & Anti-Ageing Expo; a Collectible Art Show and many other luxury sectors that will attract increasing numbers of UHNW visitors to the beautiful island of Phuket over the next 10 post-covid years,” said the organisers, Verventia CEO Andy Treadwell.
Thailand attracts high net worth individuals from around the globe, as the Southeast Asia country is still a popular holiday destination due to its cosmopolitan cities and tropical exclusive and resort islands. The Thailand Yacht Show claims the country’s ultra-high-net-worth (UHNW) clients, with assets worth 50 million baht, numbering around 123,000.
The exclusive dealer for Ferretti Yachts in Thailand, V Yachts Asia has also opened a new office in Phuket Boat Lagoon. Chanyo Manakulsawasd, V Yachts Asia’s Country Manager adding “Thailand is Asia’s maritime capital. The combination of its location and tropical climate makes the country ideal for pleasure yachting."
Simpson Marine, the biggest and longest-standing dealer in Asia confirmed the biggest number of berths in TYS 2022 and will showcase at least five or six of the latest models of their brands San Lorenzo, Lagoon, Beneteau, Fairline and Aquila.
The Thailand Yacht Show will feature more than 100 exhibitors ranging from paddleboards to superyachts, and everything in between. The previously held edition of the show in 2020 presented nearly 50 state-of-the-art yachts and boats from some of the best-known brands in the world.
More than 4000 visitors are expected this year and Thailand has further eased travel restrictions to enter the country in April, with most requirements expected to be dropped by mid-2022.
- Where: Ocean Marina, Pattaya
- When: 9-12 June 2022
Thailand International Boat Show 2023 (TIBS)
A new competing boat show, TIBS, has also recently been announced for Phuket which is seen as the central maritime focal point on Thailand's yachting scene, but several high-end manufacturers have voiced their opposition to another yacht show.
The organisers of the inaugural Thailand International Boat Show (TIBS) say it will take place at the award-winning Royal Phuket Marina between 12-15 January 2023, with over 6,000 visitors and more than 100 exhibitors expected to attend.
The TIBS is aimed at those interested in boating and a luxury lifestyle, and will feature “yachts of all sizes, both power and sail, will be on display in-the-water ranging from dinghies and day-trippers up to superyachts.”
More than 50 boats are planned to be on display including; Production Yachts, Superyachts, Jet skis, watercraft & pocket submarines.
In addition, to appeal to the wealthier clientele there will be several other luxury goods and operators displayed at the show:
- Classic Cars & Super Cars
- Luxury Properties
- Hospitality & Luxury Travel
- Business Jet & Helicopter Operators
- Timepieces & Fine Jewellery
- Art Galleries & Art Display
- Design, Furniture & Decorations
- Fashion & Accessories
The event is organised by JAND Events and claims to have the support of the Ministry of Tourism and Sports, Thailand (MOTST), the Tourism Authority of Thailand (TAT) and the Thailand Convention and Exhibition Bureau (TCEB).
Asia-Pacific Yacht Shows and Events You Can't Miss
We will also look at other key yacht and boating shows in the future including:
- Superyacht Australia 2023 Soirée might return after a successful 2022 event at Jones Bay Marina. Guests were treated to luxury hospitality and a superyacht display and ‘yacht hop’.
- Singapore Yacht Show is annually held at ONE°15 Marina Sentosa Cove, providing a “first-class platform to meet prospective clients and yachting trade professionals from the Asia-Pacific region and beyond.” The next event will be the tenth edition of the Singapore Yacht Show with dates still to be approved.
- Hong Kong Yacht Show is usually a key event but it has not taken place for two years and there is no news of a new date due to the current pandemic restrictions.
- Sanctuary Cove International Boat Show (SCIBS) will run from 19 to 22 May 2022 and is the Southern Hemisphere’s marquee marine event displaying over 300 exhibitors from best-in-class superyachts, fishing boats, trailers, watercraft, marine tech and much more. The latest marine gear and gadgets from Garmin, Fusion, Navionics, Raymarine, Dometic, Lowrance, VETUS-Maxwell, International Paint, Awlgrip, Dockmate and BLA will also be showcased.
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