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DUBAI/ WAM
The world’s mega-rich and well-heeled luxury consumers are taking to the ocean like never before, but luxury yacht builders and makers of high-end marine crafts should continue to prioritise their eco-credentials if they’re to ride the wave of a US$13 billion market.
Speakers at this week’s Dubai Boat Show Leisure Yachting Conference agree that boatyards which prioritise sustainable manufacturing into yachts that are better for the environment will align with the values of the new-age eco-conscious yacht owner or even first-time buyer.
If they do so, expect to see plenty of e-boats and hybrid electric propulsion vessels in the coming years cruising beautiful marine tourism hotspots, including the Dubai Reef, launched in 2023, one of the world’s largest reef development projects, which will span 600sqm of pristine Dubai coastline.
Eric Althaus, Managing Partner and Senior Broker of Althaus Yachts, a broker of high-end yachts, said eco yachts are the perfect foil for today’s owners eager to reduce their environmental footprint: “The modern yacht owner, often younger, seeks global exploration and adventure in remote places,” said Althaus, who will sit on a panel about innovative marketing strategies in luxury yachting at the Dubai Boat Show Leisure Yachting Conference, taking place on 27th February at the Westin Mina Seyahi.
“To align with these values, eco yachts are equipped with advanced features such as hybrid electric propulsion, sustainable materials, dynamic positioning, solar panels, and cutting-edge wastewater recovery systems, emphasising a commitment to environmental care during cruises.”
The annual Dubai Boat Show Leisure Yachting Conference will act as the official curtain raiser for the Dubai International Boat Show, bringing more than 250 key industry leaders from across the globe to deep dive into topics including innovation, regulation, sustainability, and the future of the sector.
It arrives as yacht-brokerage firms reported record sales of super yachts in 2023, with Fortune Business Insights, a market researcher, expecting the global luxury yacht market to nearly double in size over the next eight years, with annual revenues reaching US$13.6 billion by 2030.
Dr. Mariem Nasraoui, R&D Director at ChromaMe Air & Surface Nano Tech, is another speaker on a panel exploring tech’s role in transforming the luxury yachting sector. Dr. Nasraoui said tech is critical in advancing luxury yachting’s sustainability agenda.
“Innovations such as eco-friendly propulsion systems, lightweight materials, and energy-efficient technologies will help reduce the environmental footprint of yachting activities while maintaining high standards of luxury and performance,” said Dr. Nasraoui.
“In the coming years, we can expect to see further integration of technology into luxury yachting, including advancements in areas such as autonomous navigation, renewable energy integration, and augmented reality experiences for passengers. These innovations will continue to enhance the overall yachting experience while addressing sustainability challenges and driving industry growth.”
An amazing orchestra of collaboration
Figen Ayan, Chief Port Officer of Galataport Istanbul and MedCruise – the largest port association globally representing over 150 ports from 22 countries – will sit on a panel of the Dubai Boat Show Leisure Yachting Conference examining the Gulf region’s steep ascent as a capital of the yachting world.
This rising status is amplified by sustainable government initiatives propelling the region into a global marine paradise, accentuated by the Arabian peninsula’s crown jewel, the Dubai Reef, the world’s largest artificial reef and a beacon of sustainability, attracting yachters and divers alike with a promise of eco-friendly cruising.
Ayan said the Dubai Reef is the result of an “amazing orchestra of collaboration” that invites visitors to dive into local culture and discover all aspects of a destination: “Especially post-pandemic, we clearly see in the marine tourism industry that travellers and Z generations are more eco-conscious, sustainable, and look for holistic experiences,” said Ayan.
“The investments in ports, marinas or waterfronts are clearly following this trend and we see that the line between ports, berths and the hinterland is no longer separated and clear cut. Cities and communities are fully integrated, and the vision is fully inclusive where tourists, yacht owners and locals are brought together in a harmonious, inclusive space in a socially sustainable manner.”
Other speakers at the Dubai Boat Show Leisure Yachting Conference include Abeer AlShaali, Deputy Managing Director of UAE boat manufacturer, Gulf Craft; Guillermo Canellas Vears, Head of Asset Management at NEOM; and Yousuf Lootah, Acting CEO of Corporate Strategy and Performance at the Dubai Department of Economy and Tourism.
The one-day conference precedes the 30th Dubai International Boat Show, gathering the marine leisure and tourism industry’s leading minds and protagonists of its future development to scrutinise the most critical topics steering sustainable sector growth.
Something for everyone – more than a boat show
The Dubai International Boat Show takes place from 28th February to 3rd March at the Dubai Harbour, featuring more than 1,000 brands from 55 countries, 200-plus boats – including nearly 50 regional and global boat launches – along with a raft of exciting watersports activities, kids’ areas, a fishing competition, F&B, and live entertainment for the entire marine community and families to enjoy.
The five-day showpiece event is organised by the Dubai World Trade Centre, and is one of the world’s most prestigious marine lifestyle shows, connecting people and the ocean while showcasing the best of what Dubai offers to live, work, play, and visit.