Australian Financial Market Forecasts The Entrance Of Asia’s Superyacht Trend Into The Market

The term ‘boat’ is simple and straightforward, but for the superyacht industry, it’s a clever acronym, which means ‘borrow another thousand’.

However, Lionel Louw, Australian mining expert and a founder of Virtual Consulting International, a worldwide consultancy firm says that the answer is simple: tap into the Phuket boat charter scene and charter a superyacht for your needs. Tellingly, he gave this answer during an interview whilst on-board a superyacht; the 32 metre Princess Sauvage made in Europe, which can play host to 10 guests as well the crew for a hefty price of 12,000USD/day.

Louw says that chartering simply makes much more sense financially, seeing as, if buying, there’s always going to be a bigger, better boat out by the following year. He made this statement whilst in attendance at the Kata Rocks Super Yacht Rendezvous, a special superyacht even which occurred over three days from the 8th to the 10th of December 2017, having ended with the standard, but extravagant cocktail event.

The creator of the Kata Rocks Resort, boat owner and property developer Richard Pope, moved into the yacht market after opening the Kata Rocks Resort, a 34-villa boutique hotel located in Phuket, back in November of 2014.

According to the Brit, Pope, the yacht market has usually been focused on the Caribbean and Mediterranean regions, and that the Kata Rocks Super Yacht Rendezvous was aimed at spreading them out into the Asia-Pacific, with the intention of sending a few of the yachts in the Phuket boat charter scene down under.

Pope says that some of the boats that participate in the KRSR are willing to spend $100,000 just on flowers, and ponders on what that can do for the tourism and businesses in any region.

Trenton Gay, Gold Coast City Marina’s CEO, had previously visited KRSR back in 2016 in its inaugural year and was impressed enough to create a similar event in Gold Coast, Queensland. Mr. Gay had stated that him and the Australian yacht market was supporting what was going on in Thailand, saying that once the luxury yachts for Thailand, they will go visit Oceania as well.

These positive assessments were reinforced by the market research by Azoth Analytics, which forecasted that the yacht market would have growth rate during 2017-2022 of 7.26% for every year during the timeframe. Boat International noted that there were 760 orders for super yachts that were currently in construction when 2017 started, which was an increase by .7% compared to 2016.