Over 50 industry leaders attend Middle East Yacht Conference 2018

The relaxing of maritime laws and an ever-growing tourist offering have been instrumental in supporting the UAE in its growth as an international superyacht and charter market. That was the view of His Excellency Mohammed H Alshaali, Chairman, Gulf Craft, as he spoke at the region’s 12th Middle East Yacht Conference. Organised by Dubai International Boat Show, the conference gathered more than 50 leaders from across government, business and tourism to dissect how both the yachting industry and the GCC’s regulatory authorities are working together to reinvigorate the region as a global yachting hub. Four panels of distinguished speakers agreed that recent changes to maritime and tourist laws were changing the standing of the Middle East – Dubai in particular – as a chartering hotspot.
But while he conceded that the superyacht market was turning in favour of the chartering industry, Alshaali insisted that work still needs to be done to solidify the region’s yachting reputation. He said, “The revising of regulations such as the recent extension of crew visas is very important. I am glad that a lot of things are being looked at in regards to the regulations of visiting yachts, superyachts, crew and captains. But still there are challenges to overcome. Other countries rely on this type of tourism, and we should do the same.” Asked about his business outlook on the industry, Alshaali said, “I have seen growth in the region’s industry in regards to people shifting from mid-sized to larger yachts. There are more people in the market for bigger yachts nowadays. I think the market in the region is stable. That allows us to look further towards the international market, where we are seeing growth.”