Favourable regulatory atmosphere and collective destination development key to Gulf's yachting future, say industry experts

ABU DHABI: Region's regulatory environment and supporting infrastructure evolution need to be industry driven and government supportedAbu Dhabi, 25 March 2011 - The success of the Gulf region's yachting future is based on a combination of a more favourable regulatory environment, tighter safety and security measures and collective destination development, industry experts at the Middle East Superyacht Briefing said yesterday.

The expert panel at the briefing, which was organised as part of the 3rd Abu Dhabi Yacht Show (ADYS), said changes in the Gulf's regulatory environment need to be industry driven and government supported and that alignment in permits and regulations is needed to move the industry forward.

"Any future investment in developing the yachting industry needs to take into account security and regulatory issues that can have an impact on the region's massive potential," said Richard Skinner, Director of the Orchid Group, which provides risk-management strategies focused on managing and maintaining the security of yachts, owners and crew operating in the Middle East and Asia.

An expert on regulatory and compliance issues, Allan Linnitt of marine consultancy Henderson International, called for tighter and more consistent regulations to ensure continued growth. "We need uniformity of regulations to make it easier for yacht owners to come in and out of various marinas throughout the Gulf. The current regulatory and clearance situation makes it not very easy for yacht owners to get from one marina to another, sometimes even within the same country," he said.

Alongside addressing security and regulatory issues, Matthew Bate of Mourjan Marinas emphasised the need to develop domestic maritime destinations that will encourage yachting lifestyles to flourish among GCC residents.

"Some of the key aspects of creating this success include obtaining and maintaining continued support from the government and its leaders, the ability to support the industry by providing critical infrastructure, developing and implementing strategic local and regional marketing initiatives, possessing a solid base of customers that cover the whole spectrum of the industry as well as the ability of a location to provide its users with a unique and memorable experience," Bate said.

The UAE capital, according to Bate, has been at the forefront of developing marinas and yachting support facilities to cater for today and tomorrow's needs. "This strategic approach is exemplified at Yas Marina, which has been developed as a destination and events marina," Bates continued.

When assessing the opportunities for a sustainable charter market - critical to industry sustainability and yacht owner return-on-investment - Bates believes regional prospects must be looked at collectively. Although individual countries play a large role, it is the collective facilities, opportunities and experiences that will be the driving force behind a successful charter industry.

"The UAE, Qatar, Oman and Bahrain have developed a strong reputation for hosting international sporting events. These activities can be a huge draw card for the charter market. Due to recent events such as the F1 at the Yas Marina Circuit, there has been a dramatic increase in visiting yachts to Gulf waters," says Bates.

"However, these sporting events cannot sustain the industry alone; success also relies on the unique experience that is offered by the destination. The Middle East has a long and rich culture and this is complemented by impressive destination development. With the combination of sporting events and continuous promotion of the region's natural and man-made attractions, continued growth is inevitable," he added.

Informa Yacht Group (IYG), which organised the Middle East Superyacht Briefing as a key highlight of the 3rd Abu Dhabi Yacht Show which runs at Yas Marina until Saturday night (March 26), said the outcome of yesterday's discussions proved helpful in shedding light on many regional issues and opportunities.

"Going forward, we are keen on expanding the briefing next year to include speakers and topics that will help generate more in-depth insights and help industry players chart the course of the region's yachting future," said Andy Treadwell, IYG's Managing Director, organisers of the annual ADYS.

ADYS is held under the patronage of His Highness Sheikh Mohammed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and is sponsored by Abu Dhabi Tourism Authority (ADTA), with Yas Hotel as the official hospitality partner and Blancpain and HSBC Private Banking as the show's Platinum sponsors.

Abu Dhabi Yacht Show 2011 runs daily from 3pm to 9pm. For more information on event schedules and highlights.

About Abu Dhabi Yacht Show: The launch of the superyacht-centric Abu Dhabi Yacht Show in 2009, driven by Abu Dhabi's ambitions to become one of the world's leading marine leisure and yachting centres, has without doubt provided an international focus on the large yacht business in the Middle East.

Over 7,000 participants from around the world.

140 exhibitors from over 30 countries.

31 Superyachts from 25m to 100m.

A number of multi-million dollar deals agreedIncorporates a high class exhibition and conference, as well as several other luxury lifestyle events.