Conference Attendees
International Superyacht Symposium
The Business of Superyachting
Held in conjunction with Cruise Shipping Miami, the 4th International Superyacht Symposium was held in 2008 at the Miami Beach Convention Center. The Superyacht Symposium has grown from a few targeted sessions into a full two-day symposium of panel discussions offering valuable insight into this growing sector.
The worldwide Superyacht industry is continuously breaking statistical records. New construction of Superyachts has seen an explosive growth in the last ten years. There are currently 22.5 km of boats, with length over 24 mtr, being built in 25 countries around the world, representing an orderbook value of over $1.2 bn.
The size of yachts on order is also increasing. At one stage a superyacht was considered to be any yacht over 30 mtr, now this is edging closer to 50 mtr with several yards offering semi-custom yachts up to 45 mtr in fibreglass. More than 100 boats on order are over 50 mtr, which produces an additional challenge of providing suitable marina facilities.
This trend will fuel more tie-ups between traditional superyacht builders and cruiseship builders like the recent joint venture between reputed Italian yacht builder Azimut/Benetti and Fincantieri to create one of the largest superyacht builders in Europe.
The Superyacht Pavilion
Dedicated exclusively to the large yacht equipment and services companies
» Learn more.Many of the specialised yacht builders don't have the facilities to cope with the volume demand, size requirements going forward or financial strength and the increasing length requirements for superyachts means they are in the realm of the traditional cruiseship builders, with the result that all the major cruiseship builders and many marine equipment suppliers to the cruise industry are looking at this sector.
And what is fueling the demand for these ever-expanding vessels? Newfound wealth, resulting in a growing number of millionaires in countries such as Russia, China and India, together with the effect of a high disposal income as America's and Europe's "Baby Boomers" approach retirement age, should ensure that the superyacht market remains buoyant for the foreseeable future.