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The Superyacht Industry Continues to Boom

Although many countries around the world are experiencing economic meltdown, the Monaco Yacht Show event this year proved that the super-rich continue to prosper during these times. Experts in yacht industry are now talking about new rich eastern Europeans, enjoying huge incomes from oil investment, are partly responsible for the superyacht boom. Recent data from credible agencies in the Superyacht industry have proven that the the industry increased increased in value slowly from 2010 to 2011. Although the recession has made profits more challenging in other industries, the Superyacht industry seems unaffected.

A growing number of multi-billionaires are attracted to the superyacht industry. It is enjoying such success that consumer demand for highly expensive models outweighs supply. Boats constructed to individual specifications have increased to such huge proportions that the labels super and mega when describing yachts are no longer enough. These people are focusing more on the gigayacht, a multi-level, floating mansion that could be mistaken for a cruise liner.

The industry has doubled its rate in growth for quite a number of years. Professionals mention that buyers regularly spend millions on designing and redesigning interiors whether it's a particular section or even the entire vessel. This often requires updating every few years with materials such as precious metals, extravagant stone, and other fine materials. Demand for elevators as well as glass decorations and designs has seen a huge increase lately.

Superyacht stated that generated income went up from 420 million Euros in 2009 and 2010, to exceeding four hundred fifty Euros in 2010 to 2011. More than half of people in SYUK believe their amount of work has increased over the last year, in relation to what they have in the prior year. Just under 20% said they had less work. The chairman of SYUK is delighted with the rise in worth of the industry, even in the face of tough conditions. He also has observed the success of some companies who have seen a rise in new boat sales, in addition to the refit market above twenty four meters in length. The business has persevered through some really difficult times.

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Author: admin
Submitted: Oct 20, 2011 - 2:38 AM
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