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Buoyant yacht market in full view at Dubai Boat Show

By Shruthi Nair
AGBI reports from the Dubai International Boat Show 2023

The Dubai International Boat Show 2023 hosted exhibitors from 51 countries and showcased more than 175 vessels worth over $2.5 billion as the yachting boom continues.

In our video report from the boat show, Francesco Pitea, CEO of SF Yachts, admits that boats are not a great investment. But that does not dampen demand for super yachts by the super rich.

“It’s like saying a Lamborghini is an investment,” says Pitea. “Today, building a super yacht is much more convenient than buying a used super yacht as you will save more than 40 percent.”

With more than 12 percent of the world’s super yachts in the Middle East, the UAE is becoming a nautical hub.

Polish manufacturer and designer Sunreef Yachts inaugurated the company’s Dubai office in February and has announced plans to unveil another facility in Ras Al Khaimah. Marketing director Marta Sledziewska says. “We’re reaching new markets.”

Watch the video above to find out how much the most expensive yacht in the world is. (Clue: more than Buckingham Palace).

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