Demand For Mid-Size Yachts Increases In Thailand
Published: Tuesday, 25 November 2014
Gulf Craft’s entry-level yacht, Majesty 48, has arrived in Thailand just as the country prepares to host one of its largest boating events, the Ocean Marina Pattaya Boat Show, Nov 27-30.
With its fresh, contemporary interior design, a cockpit area made for socialising and a spacious fly bridge, the Majesty 48 can be comfortably owner-managed and has been designed to appeal to first-time yacht buyers.
“We are very confident that the Majesty 48 will grow into one of our most popular models in Thailand, as recent market intelligence shows that demand for entry-level yachts is growing in the country in line with growing wealth,” says Erwin Bamps, CEO of Gulf Craft.
The number of millionaires in Thailand has risen by 9.2% to 80,000 while "ultra" high-net-worth individuals (UHNWI) have risen 2% to 527, according to a recent report by the Royal Bank of Canada and Cap Gemini SA. Looking ahead Thailand is expected to add nearly 300 UNHWIs by 2023.
“Gulf Craft introduced this yacht to the international market earlier this year and the feedback has been very positive with several clients describing it as the perfect family-fit,” says Bamps. “The yacht features a spacious flybridge, three cabins – including a full-beam master suite – saloon dining, galley kitchen and concealed crew accommodation, making it an excellent choice for frequent outings.”
Gulf Craft’s foray into South East Asian markets extends back to 1992. Sales of Gulf Craft’s range of Oryx sport cruisers and Silvercraft fishing and family boats have grown steadily. The company has also witnessed increasing interest in its premium yacht brand Majesty Yachts in recent years with its Majesty 88 and Majesty 56 models drawing particular attention.
The owner of Thailand’s first Majesty 48 is an existing customer, underscoring Gulf Craft’s loyal client-base in that country.
Thailand’s active boating culture – supported by a sophisticated marine infrastructure, stunning natural waterfront and open regulatory environment – make it a top cruising destination among boat owners and tourists.