Asia’s economy is growing quickly and some Asian companies are currently looking into ways of getting into the high-luxury-boat market big time. Especially China and Taiwan have been very active in this field in the recent years.

They’re really investing a lot of money in research and development, because it is still Europe where most of the expertise in the lucrative luxury yacht market can be found. If Asia wants to grow their market share it will have to learn and get better in terms of quality and exclusivity, and the Asian companies know that very well.

Though, it’s not only quality that should be a selling factor for Asian yacht builders. They’re trying to put their yachts on the market at very competitive prices: Yachts built in Taiwan are often about 30% cheaper than those built in the West, Chinese yachts are even priced at 50% of the price one would have to pay in Europe or in the USA for a comparable luxury boat.

Asia is still behind with yacht orders, but it is gaining on Europe and America: This year there have been about 100 orders for yachts in Taiwan and China, 400 orders in Italy alone and 100 in the United States. As comparison, in 2005 Taiwan and China had only about 50 orders combined.

And foreign companies are going to cash in on the growing Asian market, too. Many yacht manageing companies and additional service providers for the yacht industry have opened offices in Asian cities in order to provide value-added services to yacht builders as well as yacht owners.

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