This year’s 5th edition of the Asia Pacific Superyacht Conference (APSC) has been successfully concluded, bringing two days of insightful presentations as well as discussion. Taken place at ONE 15°Marina Club on April 16 and 17, the eagerly awaited event was a huge success and the best to date. Having hosted over 100 delegates, and with an exciting programme from more than 20 expert speakers, the conference promised unprecendented insight into the Asian market, and it more than delivered.
Expert insight provides tools for growth
The overall mood theme of the conference was that Asia is a culturally diverse region hence increasing the need for different companies and countries need to work together to promote it.
The conference opened with a paper from Colin Dawson, who spoke on creating a cohesive market within Asia. Initiatives such as the Asia Pacific Superyacht Association, which launched in 2011, are a good conduit for this kind of teamwork.
As such an important growing market, understanding the Asian market is crucial for businesses looking to establish themselves and grow their presence in the Asia Pacific. The APSC provided delegates with a wide range of topics that addressed the emergence and growth of superyachting within the region, and how to best cater to the client base and attract more yachts to the area. A range of speakers examined the main and emerging hubs, including Indonesia, Japan, China and Hong Kong.
Speakers included world-renowned naval architect Ed Dubois of Dubois Naval Architects, who spoke of his career in the world of design and related his experiences of owner requests to the Asian market. Simon Turner, Director at Northrop & Johnson, spoke on chartering in Asia, and how it is a popular cruising hub in the making.
Other speakers in cluded MaryAnne Edwards, Chief Executive of the Australian International Marine Export Group and Superyacht Australia, who spoke on the growth of the Australian superyacht market, and James Roy, Yacht Design Director at BMT Nigel Gee, who talked about Northern European quality and offered insight to Asian companies looking to match, or even better, this high work standard. Experts from every field, including shipyards, brokers, associations, and captains of the superyachts, provided balanced insight and information for all delegates.
Increasing owner pool highlights potential for market growth
A particular highlight of the conference was the presentation on day one by Mykolas Rambus, CEO of Wealth-X, who discussed where prospective superyacht owner’s are likely to come from.
Rambus highlighted the huge potential owner pool and their assets: there are 187,380 UHNWI (ultra high net worth individuals – those with USD30 million and above), and 12 per cent of all the worlds’ wealth lies with these individuals.
With 42,895 of these UHNWI in Asia, the potential for growth is huge. According to Rambus, by 2025 Asia will have the highest number of UHNWI and by 2010 they will already be the wealthiest and mostly self-made. According to Wealth-X data, the average superyacht owner is 63, male, with a net worth of 680 million and a liquidity of 117 million. 1332 Asians currently fit this profile, and this number will jump to 2557 by 2022. This data is hugely indicative of why so many companies in the superyacht industry are investing in this all-important market.
Reaching out to this growing client base is, of course, critical. Other papers of note included a panel discussion led by Jules Kay from Ensign Media who talked about how to create successful client relationships in multi-cultural Asia.
Singapore Yacht Show continues this weekend
The Singapore Yacht Show continues this weekend at ONE15°Marina Club at Sentosa Cove, showcasing an unparalleled line-up of yachts, and some of the world’s leading luxury and lifestyle brands. Anybody wishing to attend the Show is asked to go along to the Registration Counter will they will be asked to present a soft-copy of the invitation or pay S$50 for entry.