THE UAE: The Next Superyacht Haven
Riding a wave of global demand, the Emirates is fast becoming a one-of-a-kind marine hub
The UAE is a magnet for ultra-high net worth individuals (UNHWIs), for a wealth of reasons. Among the tick boxes is the country’s strategic location; a robust economy; and a dynamic future-forward leadership.
Add to that, zero income tax for individuals; an attractive low corporate tax regime and 100% foreign ownership; game-changing 10-year golden visa scheme; and world-class infrastructure.
In 2022, the UAE recorded the fastest growth rate globally in the number of ultra-wealthy (+18.1%). And, in 2023, UK investment migration consultancy Henley & Partners named Dubai and Abu Dhabi in its BRICS Top 10 Wealthiest Cities report with Dubai also making the top 20 World’s Wealthiest Cities Report.
The embodiment of wealth, prosperity and luxury, the Emirates continues to innovate in order to attract investment, knowledge capital and innovation across its booming economy.
Keeping investment afloat
The UAE’s marine infrastructure is also an important economic driver and has evolved to position the Emirates as an exciting destination for visiting superyachts.
The country’s ultramodern marinas and quality shipyard facilities have seen significant investment and enhancement. In Dubai alone, in recent years the government has redeveloped Port Rashid to position it as a premium yachting destination and constructed the new, 20,000-square-foot Dubai Harbour district: home to the largest marina in the region with 700 berths. The city offers a total of 15 marina locations totalling in excess of 3,000 docking spots.
Abu Dhabi, meanwhile, has four destination marinas and is home to two full-service superyacht marinas, support by a comprehensive and complementary network of luxury accommodation, services and amenities.
High-profile internationally recognised showcase events are a further critical component. The annual Dubai International Boat Show (28th February – 3rd March 2024), has been a calendar fixture since 1992, and has gone from strength to strength. Other milestone events include the Abu Dhabi International Boat Show and the Gulf Superyacht Summit.
The Dubai Government is also proactive when it comes to promoting the emirate’s yachting appeal, with regular participation at the Monaco Boat Show a channel opportunity for mega-project announcements.
A lifestyle to match
Year-round sunshine, a safe environment, and endless leisure opportunities are undoubted value-added benefits for any visitor to UAE shores. A profusion of Michelin star restaurants have enhanced the local dining scene, while the city’s five-star hotels brands, award-winning spas and high-end luxury retail offer upscale leisure pursuits.World-renowned musical stars tour at venues across the country, and the Emirates has similarly earned its stripes on the international sporting events calendar.
A multifaceted destination undergoing constant evolution, the UAE’s evergreen marine industry is all about creating new experiences and cultivating a business and lifestyle offering that continues to attract the international superyacht community.