Research carried out by the Superyacht Builders Association and SuperYacht Times found Middle Eastern clients are the proud owners of the world’s largest yachts

The findings, which were published in partnership with Dubai International Boat Show, found the average superyacht purchased in the region Middle Eastern measured an average of 63m. Just for context, this is just ten metres shorter than an Airbus A380 (the world’s biggest passenger plane). These boats were also found to be greater in mass, with the average superyacht weighting in at 1,618 in gross tonnage (eight times more than the average blue whale, according to National Geographic).

Many of these superyachts are docked at the 5,000 berths across the UAE, witht his number expected to grow by 1,400 with the opening of the Boat Show’s future home, Dubai harbour, next year.

Speaking of the findings, Theo Hooning, secretary general of the Superyacht Builders Association, said, “If we look at the ratio of ‘fleet to billionaire’, the Middle East and North Africa region had the highest fleet to billionaire ratio in 2010 at 163 per cent, meaning ultra-high net worth individuals with less than one billion dollars also owned yachts that measured over 40 metres. It may also have meant that multiple billionaires owned more than one 40m+ yacht. This ratio increased to 188 per cent in 2018, and is the second-highest fleet to billionaire ratio found anywhere in the world.

“The average length of yachts of owners from this region, however, is the highest in the world, at 63 metres. Projected wealth development coupled with an historic uptake of superyachts, positions the MENA as a region that is expected to continue to be an essential and stable market for the industry.”

The 27th edition of Dubai International Boat Show will be taking place at Dubai Canal Jumeirah from 26 February until 2 March. Look out for further coverage of the event in the next issue of Elite Living Africa.