Gulf Craft eyes expanding Indonesian market
Published: Monday, 24 June 2013
Gulf Craft is continuing its strong push into the Southeast Asian markets with its strong presence at the recent Indonesia Yachts Show in early June in Jakarta.
Indonesia is home to one of the world’s fastest-growing pools of private wealth and is expected to see a major change in coming years as the number of high-net-worth individuals witnesses a significant increase. According to “Wealth Report: Asia” released by prominent Swiss private banking group Julius Baer last year, the number is expected to rise from a mere 33,000 in 2010 to about 104,000 in 2015.
“We anticipate a significant surge in interest in luxury goods in the coming years and we want to grow with the market,” said Gulf Craft’s Chief Operating Officer Erwin Bamps. “We were one of the very first companies in the yacht business to recognize Indonesia’s potential and have now had a presence in the market for more than two decades. Our strong experience in emerging markets, our understanding of the needs of Asian customers and the heightened interest we received at recent Asian boat shows such as the Hainan Rendez-Vous, Singapore Yacht Show, the Phuket International Boat Show and the China International Yacht Show in Shanghai place us in a very favourable position to service the Indonesian market with yachts that are made for these waters.”
“The increase in disposable income combined with active marina development will lead the way for more of Indonesia’s wealthy to take to the water and we are watching the market very closely,” added Bamps. “We have a strong dealership network in Asia and we are constantly looking for ways to boost the support facilities we offer our clients. We are confident that our long presence and experience in Asia will serve us well in the years to come.”