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05
HORIZONS
SPOTLIGHT ON ASIA
Burgess established its formal Asia outit in 2015 and now has oices in Hong Kong, Singapore and Tokyo, and Asia ‘desks’ in London and Monaco dedicated to Asian clients. Jean-Marc Poullet discusses.
— What was the catalyst for expanding into Asia?
Setting up a formal operation was the natural evolution following many years of Burgess’ attendance at regional yacht shows. We also noticed a heightened interest in yachting amid broader wealth expansion and lifestyle changes within the region. In parallel we also observed interest from western yacht owners and charterers in exploring the region’s relatively untouched cruising grounds: the Maldives, Thailand, Indonesia and the Philippines.
— Asia is very new to the superyacht industry. What are the complexities associated with yachting in Asia?
While there is little doubt that Asia will in the
long term become an important yachting market and a global cruising ground, it is currently still nascent and represents less than 10% of the global market in terms of yachts owned, charters booked, marinas, facilities etc. Adding to the complexity of the region is its fragmentation and diferences in terms of national boundaries and regulations, languages, cultures, levels of economic development, lifestyles and even distances across the region, all factors that are critical to consider when operating in Asia and advising Asian clients.
— Which part of Asia has the most potential for superyacht development and growth?
Thailand has the most developed cruising grounds at this stage, speciically the region surrounding Phuket, closely followed by the Maldives. With high end facilities, resorts and a wide range of shore activities both cruising regions already rival Caribbean counterparts. With both destinations investing heavily in tourism, and maritime activity coupled with the aggressive regeneration of the UAE’s shoreline, the Indian Ocean, Asia and Middle East will soon be a true global contender in the superyachting industry.
In conclusion
Burgess has an excellent track record both in the Middle East and Asia representing many clients from each region. As a global company with 13 oices worldwide ofering 40 years of success, knowledge and expertise we are able to deliver an unbiased and transparent service across the full spectrum of superyacht activities, which we believe makes us unique. Both teams
are focused on development and growth by combining their local expertise, cultural know-how and linguistic skills. In conclusion we are excited about the long term potential of the GCC and Asia as yachting markets.