A new study into superyacht ownership has found that Middle Eastern owners own a large proportion of the world’s longest and most luxurious vessels
Ahead of the upcoming Dubai International Boat Show, the Superyacht Builders Association has carried out a survey into the market and found that Middle Eastern owners still dominate.
A grand total of 193 superyachts are owned by high-net-worth individuals from the Middle East – this represents 12% of the global fleet of vessels measuring 40m (131ft) or longer.
The study also found that the average length of a Middle Eastern owned superyacht is 63m (206ft).
However, this figure is dwarfed by the world’s largest superyacht Azzam (pictured above), which is owned by UAE president Sheik Khalifa bin Zayed Al Nahyan and measures 180m from bow to stern.
The survey also found that the industry is booming, with 755 superyachts over 24m currently under construction, up from 734 last year.
Theo Hooning, secretary general of the Superyacht Builders Association, said: “The demand for superyachts from the Middle East can be classified as fairly stable over the years, while others may have been more volatile.
“The historic demand from this region has been vital for the growth of this sector,” he added.
The 24th annual Dubai Boat Show opens at Dubai International Marine Club Mina Seyahi on March 1 and runs until March 5. Tickets cost 60 AED (roughly £11) each.