Gulf-based boat builders, charter companies and marina developments have emerged as the catalysts for the double-digit growth taking place in the Middle East’s yachting industry, as demonstrated at last night’s inaugural Arabian Gulf Yachting Awards 2007.
Ten out of 17 awards across seven categories were snapped up by boat builders, charter companies, and yachting clubs all based in the Gulf, highlighting the critical role that locally-based groups are playing in the up to 30% growth estimated for the region’s yachting industry in the next year.
“The four key areas really helping to drive the Middle East’s boating sector are in charter services for potential owners, after-sale service for existing owners, events and races which drive awareness about the industry, and the clubs and marinas that support the yachting sector as a whole. More than 60% of the awards went to Gulf-based companies in these areas, demonstrating that the Gulf is using its own resources and expertise to become a major boating hub,” said Toby Haws, editor of Boat Owner ME magazine.
The categories for power and sailing yachts were largely dominated by US and European brands, highlighting the robust nature of the Middle East as a major importer of these vessels, but local builders were also recognized for their growing contribution.
The first-ever Arabian Gulf Yachting Awards 2007 also paid tribute to industry events, individuals and marina development projects that have firmly placed the GCC on the global map as a yachting and leisure hub.
“As an inaugural event, the awards flagged up a number of important industry issues, including the pressing need for berthing being addressed by the marine developments underway regionally, the development of new racing events and trade shows to showcase the region’s boating industry, and the need for standards in the charter and servicing of boats as the Middle East’s yachting sector matures,” Haws added.
Introduced in 2005, and distributed throughout the GCC, ITP’s flagship title, Boat Owner Middle East provides a monthly window on the GCC yachting industry, offering in-depth power and sail yacht reviews, local industry perspective, local personality interviews and local club racing results. Combined with international features of interest to the enthusiastic yacht owner, Boat Owner also provides the only comprehensive directory of yacht brands and marine related companies in the Middle East.
ITP Group
ITP is the largest business and consumer magazine publisher in the Middle East, with a wide range of market-leading titles covering almost all major areas of interest. A full list of titles and information about ITP Group can be found online at www.itp.com
