Middle East Leisure Boat Market Reaches All-Time High

Driven by strong growth in tourism and increasing interest in marine sport and off-shore fishing, demand for boats and pleasure cruisers has reached an all-time high in the Middle East.

Recent studies suggest that there is now one leisure craft for every 423 local people in the Gulf.

Increasing investment in marinas and beachside property, the rise in support services and growth in the number of dedicated sailing and boating events have also contributed to the rapid expansion of the overall market. 

As the one of the dominant producers of Yamaha pleasure craft and fishing boats in the Middle Eastern region, with technical license from Yamaha Motor Co. Ltd, Japan, Al Yousuf Industrial. has seen strong demand for their craft in 2005 and expects this trend to continue in 2006.

In total, the company has produced over 2,200 boats since they began manufacturing, with 2004 and 2005 producing the strongest demand for its products to date.

“Increasing tourism and strong rises in sales to residents have driven growth in the market in recent years and we’re anticipating ongoing growth in the medium term,” said Nizar Anik, director of Al Yousuf Industrial Est.

“The expansion in the number of marina facilities and residences by the sea has also been a major factor – people see owning a craft as a natural addition to their home by the shore,” he added. 

To manage the rising demand, Al Yousuf is pursuing an ongoing strategy of expansion. Its new showroom can be found in the China court of Dubai’s Ibn Battuta shopping mall, one of the world’s largest themed shopping malls.

In addition, Al Yousuf recently opened a showroom in Ras Al Khaimah and has plans to open future stores in new developments across the Emirates.

See other recent news regarding: Dubai