Boating enthusiasts chart course for Dubai
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With economic growth forecasts in excess of 4%, a large concentration of high net worth individuals, and a burgeoning tourism industry, organisers of the Dubai International Boat Show are anticipating a successful event in 2014.
This marine spectacle is expected to draw more than 26,000 visitors from over 70 different countries, including 5,000 VIPs and key buyers. Regional royalty and top buyers from Bahrain, Kuwait, Qatar, Saudi Arabia, and the UAE will join the thousands of visitors from across the globe.
The twenty-second Dubai International Boat Show runs from 4-8 March at Dubai International Marine Club, Mina Seyahi, and will feature 840 exhibiting companies and brands, representing more than 50 countries. There will also be four dedicated country pavilions from Australia, Italy, USA, and Turkey, highlighting global interest and investment in the lucrative Middle East market.
Visitors to the show will be able to view more than 430 vessels including 19 superyachts, as well as the FARR-designed powerboat known as P38, being launched by Premier Composite Technologies. Not forgetting petrol heads, the Supercar Promenade returns for a fourth year running, with top class vehicles from McLaren, Bentley and Mercedes, and modified automobile specialists.
The anticipated attendance by buyers and tourists alike reflects the UAE’s increasing importance in the international luxury maritime market and heightened consumer confidence across the GCC.
According to the McKinsey Global Private Banking Survey 2013, the total high net worth wealth in the Middle East is predicted to increase by US$3.3 trillion by 2014, positively impacting regional buying power and stimulating further growth across the luxury yachting sector. This outlook has prompted some observes to rank the UAE ninth among the most productive manufacturers of superyachts.
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