China On The Rise Within The Marine Industry

News out of China lately has shown how vital and how expansive the market for products and services are within the marine industry.

In a recent article, it’s been reported that China leads the world in ship building. In 2011, China delivered a total of 1,177 ships with 67.2 million DWT. In fact, the top 3 ship building nations were all Asian – China, South Korea and Japan respectively.

With the ever expanding export business plus the vast increases in imported goods, Chinese ship builders, suppliers and other related supporting businesses continue to both generate and demand resources.

And not only is the emphasis on the growing Chinese commercial marine industry, but the market for luxury yachts in China is growing quickly. With reports that there are roughly 875,000 millionaires in China, the international yachting industry is targeting China as the wave of the future.

Recent market survey show plenty of demand for luxury items, including larger yachts. Newly minted millionaires are seeking ways to spend their money. Demand for private yachts has gained traction in China over the past two years.

As the Chinese economy booms, more market demand will be created. This could inevitably benefit American yacht designers and builders who are able to figure out how to align their services with the growing Chinese need.

Growing China Yacht Industry

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