Middle East is now home to the world’s biggest superyachts

With the average locally-owned private vessel measuring 63 metres in length – just ten metres shorter than an Airbus A380, it is believed that the Middle East is now officially home to buyers of the world’s biggest superyachts. Global analysis compiled by the Superyacht Builders Association (SYBAss) with data from SuperYacht Times, found that the region tops other major yachting hubs across the USA, Europe and Asia in being home to the fleet of most sizeable personal pleasure vessels. The superyachts – found docked across the UAE’s 5,000+ berths, a number which is set to grow by 1,400 with the 2020 opening of the new Dubai Harbour, and sailing internationally – tend to not only be longer in length but greater in volume too, averaging 1,618 in gross tonnage. As the region continues to grow as a yachting hub, the research by the independent bodies found that the percentage of superyachts owned by local buyers has also climbed. The Middle East is now home to 12.6% of all 40m+ superyachts – a total of 216 mega-vessels. Supplemented by an estimated 10,000 registered small-to-midsize pleasure-craft, the growth is further proof that the UAE in particular – recently ranked as the world’s fourth best performing and logistically advanced port – is continuing to make significant waves as it blossoms into a truly world-class maritime hub.
The figures have been brought to the fore in partnership with the Dubai International Boat Show, the 27th edition of which gets underway this month. As the leading maritime event in the Middle East, the Dubai International Boat Show – to be held Feb 26th through March 2nd at Dubai Canal Jumeirah – the event plays a critical role in creating and sustaining demand for superyachts and boats of all sizes and budgets across the region. Asked if 2019 will be another year of big regional spending, Theo Hooning, Secretary General of SYBAss, said: “We certainly hope so. The number of ultra-high net worth individuals is continuing to grow, so we know the target audience is there – and in increasing numbers.”