Wed 20-02-2019 18:54 PM
DUBAI, 20th February, 2019 (WAM) -- Dubai International Boat Show gets underway next week, welcoming no fewer than 450 yachts and boats from around the world to the Dubai Canal.
Ranging from fishing boats and small leisure-craft, to 50-metre (164ft) superyachts, the Dubai International Boat Show will be home to all things "chic nautique", and will once again be the Middle East’s premiere showcase of everything sea-based.
Running from 26th February to 2nd March, the 27th edition of the annual show will have AED1.5 billion worth of boats for sale, live jet-ski, sailing and fishing competitions, diving displays, expert-led sea-based conversation, and a host of fun have-a-go sessions.
It will host a combined 38 global and regional launches, will welcome more than 800 different companies and brands from 50 countries.
The global recreational boating market is experiencing an upswing, with growing interest in leisure activities such as fishing, sailing and watersports guiding the boating industry to a projected worth of $74.7 billion by 2022. In the UAE alone, the industry was valued at approximately $1.3bn to $1.5bn last year.
This demand, coupled with rising popularity of marine and coastal tourism activities, relaxed maritime regulations and a 50 percent increase in local berths – a number which is set to grow by a further 1,400 with the 2020 opening of the new Meraas-developed Dubai Harbour – has seen a sizeable swell in the UAE’s recreational boating market, now home to more than 10,000 registered small-to-midsized boats, and a considerable share of the Middle East’s 216 40-metre-plus superyachts.
Speaking about the show, Saeed Hareb, Secretary-General of Dubai Sports Council and Senior Advisor to the Dubai International Boat Show, said, "Dubai International Boat Show is a key driver of the expansion of the region’s recreational maritime sector. The UAE, and the wider region, has become a global must-visit location for all water enthusiasts, from leisure yachters and pleasure cruisers to divers and sailors.
"As we look towards an exciting future led by next year’s Expo 2020, we are excited to bring the world to Dubai to share all that this unique, vibrant and beautiful city has to offer as a maritime destination. Dubai International Boat Show is an unparalleled experience, and will once again bring the cream of the industry to our city’s shores."
The region as a whole is investing heavily in its maritime offering, with the UAE accounting for 35 percent of that total investment. In conjunction with rising tourist numbers, the country is well positioned to continue to develop into one of the world’s most sought-after luxury marine locales.
Dubai International Boat Show plays a critical role in creating and sustaining this market for superyachts and boats of all sizes and budgets across the region.
The Middle East is a key marketplace for the wealthiest of yacht owners, with 216 superyachts registered in the region. With an anticipated wealth growth of US$12 trillion across MENA by 2021, spending power is on the rise – something that has been observed across all levels of boating investment.