The propensity of ultra-high net worth individuals (UHNWIs) in the Mena region to buy superyachts built within the last 15 years is 20 percent. This is the second highest in the world after Eastern Europe (46 percent), with propensity to buy based on historic data of wealth increase versus superyacht ownership, said a report released by the Superyacht Builders Association (SYBAss) yesterday.
The report notes that in 2015, UHNWIs from the Mena region owned 197 superyachts - 12 percent of the global superyacht fleet above 40 meters in length. The report puts the number of MENA region UHNWIs – a household with a minimum of $250m bankable assets – at 628 in 2015, an increase of 19 or 3 percent on the previous year.
This represented 6.5 percent of the total number of UHNWIs worldwide, with the biggest growth in 2015 seen in the Asia Pacific where the number of UHNWIs grew by 269 (15 percent) to 2,100. Overall, North America with 3,698 (38 percent) had the most UHNWIs followed by Western Europe with 2,250 (23 percent). “The SYBAss report underlines the importance of the MENA region to the superyacht industry, and at the same time highlights why the Dubai International Boat Show is among the world’s most significant boating events,” said Trixie LohMirmand, Senior Vice President, Events Management, Dubai World Trade Centre.
“The calibre of superyacht manufacturers that are represented at the show this year will undoubtedly pique interest and demand from the boat owners in the Middle East and the rest of the world, who eagerly anticipating the latest launches from the industry.”
