S'pore Yacht Show to be held on Apr 8-10

S'pore Yacht Show to be held on Apr 8-10

With its Formula One race and integrated resorts (IRs), Singapore is being dubbed the Monaco of the East.

Now that reputation will be further sealed when it hosts the Singapore Yacht Show from April 8 to 10 this year.

It will be the first time the event is being staged outside of Europe and the Middle East.

South East Asia could be the next playground for super yachts, and Singapore could be the anchor.

The Singapore Yacht Show, to be held at One Degree 15 Marina in Sentosa, aims to provide a platform for industry players to meet and do business.

The Superyacht Singapore Association estimates the Asia Pacific market to be worth some 350 to 500 million US dollars (S$447m to S$639m).

Organisers of the show expect about 20 boats and some 5,000 visitors.

Traditional industry leaders like Europe and the US are seeing a decline, and are looking at alternative winter destinations besides the Caribbean.

Many of Asia's millionaires and billionaires are also looking to ride the wave of alternative lifestyle options.

Andy Treadwell, MD of Informa Yacht Group, said: "There has to be a hub, there has to be somewhere where you come to do the business, there has to be somewhere where the owners can fly in with easy access and Singapore has all those communications and facilities. This is a financial hub and a great place for business."

Business ripples could also benefit the region, as Singapore targets up to 200 super yachts by 2015, up from the 16 in 2006.

There will also be economic spin-offs.

Arthur Tay, executive chairman & CEO, SUTL Group, said: "They will enjoy Singapore, go to the IRs, see our parks, do big shopping and visit their private bankers."

There is even a company building such yachts, but more facilities and support services are needed as the sector makes a bigger splash.

Besides boats, the organisers are looking at staging a golf tournament in conjunction with this year's show and there are even plans to bring in a motor sports event should the Changi Motorsports Hub be up and running by next year.

-News courtesy of Channel Newsasia-