Dubai seeks larger share of global yacht market

Dubai tourism and maritime authorities are looking for ways to increase Dubai’s yacht industry, including through a simplified visa process and registration process.

Earlier this week, the members from Dubai Tourism, Dubai Maritime City, the Federal Transport Authority, Department of Naturalisation and Residency, Ports, Customs and Free Zones Corporation, Dubai Coast Guard and Dubai Sports Council met with manufacturers and operators of luxury yachts.

They discussed methods for the emirate to obtain a larger market share of the global yacht industry, expected to reach $74.2bn by 2022, through private yacht and boat business initiatives.

Among the plans are to make yachting a more attractive option for tourists, create a simplified process for registering super yachts and boats and streamline visa process for staff and crew.

Dubai is also looking to improve infrastructure for repairs and refits.

“Our renewed approach to capitalising on the huge potential that exists in the luxury yacht and leisure marine sector is aimed at further enhancing our world-class tourism proposition,” said Dubai Tourism director general Helal Saeed Almarri.

“With an advanced marine leisure industry including infrastructure that is on par with international standards, Dubai is well-positioned to capture the mega yachts market and become the region’s preferred yachting hub.”

The initiatives are part of a wider government movement this year to propose reforms that will improve the economy – including a new mortgage and fee waivers.

Every year the emirate hosts the Dubai International Boat Show featuring the latest maritime developments.