Selling Luxury Yachts – Is It Lucrative?
Unknown to the spotlight of political, fashion, food and entertainment industry, the luxury yacht industry have grown tremendously in its own silent realm. Back in 1993, there had only been 700 boats sized over 24 meters, now an estimate of 7000 yachts over 24 meters are reported to be in use. It is currently a $25 billion international industry with an annual growth of 5-10%. Certain events like the 9-11 attack on the World Trade Center, stock market crashes, threats of SARS, and dollar devaluation, had completely no effect on this market segment. The business has grown steadily for the past years despite of the economical crises that have been hitting investors and still marketing experts forecast that it would still continue to. A few reasons of the increasing trend in luxury yacht ownership and chartering would be due to the immense benefits the client gets in it. Foremost, people in off-shore residency could live tax-free in the comforts of their yachts. It is also one way to spen
