Chinese Aviation Conference Shares Synergies w/ Yacht Industry

The recent Asian Business Aviation Conference and Exhibition (ABACE), held in Hongqiao, China boasted an increase in attendance of 20% on the 2012 event. This increase was matched by the number of exhibitors at the event, which of 180 at the show comprised some of the leading names in the private jet industry.

“Asian buyers seeks out the finest brands and they are particularly attracted to business jets built by Bombardier and Gulfstream” Jet Net iQ’s Rolland Vincent explained to Billionaire.com. “They tend to select new aircraft only, in the ultra long range, large cabin segment- only the best is good enough.”

Billionaire.com’s report lists the price range of the private jets exhibited at ABACE as $4.5 million to $47 million. And whilst superyachts can sell for 10 times those figures, there were only seven on display at China’s premier yacht show, the Hainan Rendezvous. Although many leading superyacht builders did exhibit at the event they are yet to enjoy the same kudos among Chinese UHNWIs as their aviation contemporaries.

But Delphine Lignieres, CEO of the Hainan show’s organiser China Rendezvous, believes the catalyst for yachting’s growth in popularity is something of a chicken-egg scenario: “I believe that the boating lifestyle will be shared by a wider number of people in China as time goes on. Many people haven’t had the chance to have a boating experience and feel the emotion and passion that it brings.”

And whilst we are witnessing “the era of Asian business aviation”, according to Wealth-X CEO Mykolas Rambus, who predicts a Chinese fleet of private jets numbering 800 by 2020, the Chinese superyacht industry is very much a nascent one. There have been significant launches – 42m vessels Star and Adastra – and top-end deliveries – 45m Blue Sky – but the popularity of yachting is yet to reach its zenith.

It could however, be the ‘yacht-as-a-business tool’ concept that triggers market growth that mimics the success of the aviation market. As Visun Royal Yacht Club’s managing director, Voltaire Leung told SuperyachtNews.com:

“The main reason [Chinese UHNWIs] buy yachts is not to enjoy sailing but to entertain their business clients and friends. According to our member base, these new Chinese clients are coming from Beijing, the east coast city of Ziejiang, the northeast city of Harin, and the southwest city of Chengdu. The owner of the 43m Feadship Helix, which is here at Visun marina, has business in Shanxi.”

Source: Superyachtnews – By William Mathieson