Published on : Thursday, April 26, 2018
Following the announcement of the economic stimulus by His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister of UAE and Ruler of Dubai to reinforce Dubai’s economy in the presence of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, the Dubai Maritime City Authority (DMCA) supported by the Department of Tourism and Commerce Marketing (Dubai Tourism) organized a workshop on 25 April at Arabian Travel Market for key government entities, yacht operators and manufacturers as part of wider efforts to develop Dubai’s maritime industry.
This important sector has significant potential to grow by expanding into the lucrative luxury yachts sector plus ensuring leisure maritime pursuits are easier to enjoy with the overall aim to further broaden Dubai’s tourism offering.
With the global yacht industry expected to reach $74.7 billion by 20221, driven by luxury cruising among high net worth individuals, Dubai aims to be well-placed to ensure maritime regulations and infrastructure match the demanding expectations of this significant sector. Already the world’s fourth most visited city2, Dubai’s existing tourism proposition is hugely attractive for global visitors and is perfectly positioned to capture an increasing share of the high-end superyacht market.
Additionally, the leisure maritime sector is expected to continue on an upward curve due to an easing of regulations encouraging recreational boating activities. Local stakeholders have highlighted a number of challenges that are being addressed to facilitate easier access and drive increased visitation from maritime enthusiasts who seek sea based experiences.
A wide range of initiatives relating to the private yachts and boats business, including its potential for generating revenues and offering yachting as an attractive option for tourists, plus ideas to further develop this sector were discussed at the workshop.
The government’s wide-ranging economic stimulus plan aims to boost economic growth, attract new investments and reduce the cost of running a business in Dubai, and features initiatives from several government departments including three key proposals from Dubai Tourism – to attract more transit passengers to visit Dubai, introduce the time share concept to woo more families to the emirate and to encourage more luxury yachts and boats to visit Dubai.
The workshop on leisure maritime traffic was attended by the Director-General of Dubai Tourism, H.E. Helal Saeed Almarri, H.E. Amer Ali, Executive Director of Dubai Maritime City Authority (DMCA), and senior officials from Federal Transport Authority, Department of Naturalisation and Residency, Ports, Customs and Free Zones Corporation, Dubai Coast Guard and Dubai Sports Council, as well as operators and manufacturers of luxury yachts and boats.
H.E. Amer Ali, the Executive Director of DMCA, said: “At DMCA we continuously work hard to improve, enhance, and develop all those aspects that help create a competitive and attractive maritime sector in Dubai. We are delighted to be working with Dubai Tourism to support this vital sector in Dubai’s economy. The forward-thinking vision of Dubai Tourism is in sync with ours in creating a world-class marine leisure sector in Dubai. We are working to develop business friendly services to foreign super-yachts and other watercrafts to guarantee that Dubai waters enjoy marine safety, operational efficiency, and safe navigation. Our work with Dubai Tourism supports our vision of creating a globally leading maritime center in Dubai, which is attractive to foreign investors on one end, and applies best-practice international standards on the other.”