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With the financial crisis receding into the past the international luxury yacht market is staging a comeback. Whereas the past decade had seen both luxury yacht rentals and purchase come under pressure due to the credit crunch today it is slowly but surely reaching levels last seen in the 1980’s. While many traditional buyers and rental client markets were stagnating (although now recovering) new entrants of both buyers and renters are helping to buoy the market. Increasing levels of affluence among Asian consumers and a new sense of optimism in certain Middle Eastern markets (amongst these Dubai where the property market is an excellent indicator of increased enthusiasm) have meant that large numbers of aspirant buyers are now bringing new excitement to the activities of yacht brokers. Many of these buyers have not been exposed to the yachting lifestyle and also have a desire to explore regions that were previously not part of their leisure and holiday planning. These aspirant buyers (and those who wish to rent yachts) are now ready to explore traditional yachting destinations such as the Caribbean and the Pacific, as well as the immense beauty of destinations closer to home such as the islands that can be found in the Andaman Sea.
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The revival within the global financial system has a lot to do with the increasing popularity of holidaying on high end ships. Whereas the last 10 years has seen numerous high net worth people come under elevated financial pressure the international economic gloom and doom seems to be a thing of the past. It has powered the growing numbers of brand new luxury boats that are being designed and purchased. Luxury boat contractors are seeing more being purchased as well as designers are seeing an uptick in business. However this is by no means the complete story. The entire world is beginning to change and increasing numbers of customers with larger amounts of disposable income are realising that super yachts as well as other variants offer an fantastic chance to enjoy free time far away from the demands of the modern world wrapped in a package of luxury and especially a level of privacy – something which is becoming increasingly more precious in our increasingly connected world.
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Imagine having the complete freedom to explore the world around you in the lap of luxury where only time and tide dictate the rhythm of your explorations. The horizon is the only guide that you have when you rent a yacht and your days are your own to control. If the mood takes you then you can simply drift with the tides. If on the other hand you want to throw down an anchor and let the sunlight play on the water while you enjoy some of the finest fresh seafood then that is your decision. You can choose to dive into sparkling azure waters and catch your own dinner or rely on the highly skilled onboard crew to find and select the choicest of fresh ingredients for you – there is simply no better way to relax, far from the madding crowd. In fact there is simply an amazing amount of choice when you decide on yacht rental. There are more and more destinations that have thrown open their arms to welcome the increasing numbers of people who are deciding that yacht charter is their chosen way of enjoying leisure time. Countries such as India and Vietnam, as well as the Philippines have signed of on developments that are specifically designed to make yachting a fun and pleasurable experience. New berths and yacht clubs can now be found across the Southeast Asian region – and they are all world class.
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However, for those who want to venture off the beaten track there are now numerous options around regions that are only now opening their arms to a new breed of yacht charter aficionados. Destinations such as the islands off Vietnam or other Southeast or Asian locations now reward the avid explorer with new experiences and brand new infrastructure that can today be compared with the best that the world has to offer. These countries in this fascinating region are fast gaining a reputation for unspoiled natural beauty and friendly people. This is attracting more and more yacht charter operators to the potential of new markets. This is especially important due to the increasing spending power of consumers from countries such as India and China. For generations only the very top earners in these countries would have the ability to spend on a yacht charter – however today increasing levels of affluence have changed that picture.
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Today those who are looking to purchase a yacht are eager to explore brand new places. Just as the Mediterranean and the Indian Ocean challenged people to explore and discover throughout history today a whole new breed of explorers is opening up other oceans and seas to provide an opportunity to explore even more mysterious and fascinating lands. From the most beautiful islands off the coast of Vietnam to the ancient Black Sea ports and even further afield off the coast of Africa people who have purchased yachts are the modern day equivalent of the explorers of old – with one major exception. Rather than surviving on stale ships biscuit and a small measure of rum each day they are now exploring in the lap of luxury. These explorers have a crew of dedicated and sea wise people who are willing and able to fulfil their every wish. If it is fresh seafood caught in pristine waters they will provide, if it is something as simple as a cool drink or a snack they will be on hand.