Global Marine Business Advisors‘ member Godfrey Zygart reports on the leisure marine markets and boat show seasons in China, Hong Kong, and Taiwan.
China
Although China still produces many boats for export, the local yachting industry is still pretty stagnant and hasn’t shown any significant development post-pandemic. This slowdown is due to a combination of factors. Despite a GDP growth forecast of roughly 5 per cent, China has experienced an economic slowdown in the last two years. Due to geopolitical tensions in the world and the region, and following the shock of the pandemic, Chinese citizens are extremely cautious about their cash flow. Consumers here tend to avoid risky investments and unnecessary spending. In addition, restrictions on navigation and the complexity of laws and regulations for yachts in China also seriously hamper development.
The number of yachts, marinas, and yacht clubs in China has not changed much compared to previous years, showing only limited growth. However, thanks to strong support from provincial governments, boat shows have rebounded to pre-pandemic levels and are growing.
MIN has reported a number of recent moves by boat businesses, with some manufacturing bases shifting to China, along with an increase in distribution networks across Asia.
In 2024, RS Sailing appointed Beijing HHH Sports Technology Co. Ltd. (BJ HHH) as its new Chinese distributor.
China International Boat Show, formally the Shanghai Boat Show, is in its 27th edition. Held at the end of March, having moved to a new exhibition hall in Pudong in 2023, it offers a much larger exhibition over 45,000 square meters and attracts 600 exhibitors and 40,000 visitors. Haikou Boat Show is now part of the Hainan International Consumer Expo, and both are key components in the development of the Hainan Free Trade Port. Held in April, it brings together over 1,600 exhibitors and 240,000 visitors.
As a former Olympic host region, Qingdao still has a strong core of sailors and the Qingdao Boat Show 2024 attracted an estimated 30,000 visitors last August. Xiamen is one of the few hotbeds of Chinese yachting enthusiasts and has a number of very well-established marinas. Held since 2008, the November show is part of the Xiamen International Ocean Week. In 2024, it attracted 200 brands, 100 exhibitors, and 45,000 visitors over four days.
Sanya, with several marinas and around 1,400 boats, has been called the sailing capital of China. The yacht shows of previous years waned during the pandemic, so the only major event now is the yearly Boating Sanya Show, sponsored by the city government and held at the new public marina and International Yacht Exhibition Center.
Read the latest marine news from China
Hong Kong
Hong Kong is a unique case in Asia. It has a very long sailing history, a vibrant yachting culture, and thousands of fervent sailors.
Boating is increasingly popular in Hong Kong, and its coastline and 261 islands hold great potential. In 2024, there have been many notable brand expansions in Asia. In 2024, Axopar, Saxdor, De Antonio Yachts, Beneteau, and Princess – among others – appointed distributors for the region of Hong Kong, and Northrop & Johnson grew its Asia-Pacific presence with new offices in Hong Kong and Taiwan.
The current fleet of registered boats is 12,500 but the island is still in dire need of berthing facilities. Only 4,300 berths are currently available, with nearly half of them being mooring buoys. There has been a notable expansion and upgrade of the Lantau Marina recently, and now the government seems finally keen on developing the yachting industry and additional facilities. The latest approved project is a 600-berth marina at the Airport City terminal. It will be the first one to have a dedicated CIQ clearance for yachts.
There are several boat shows annually in Hong Kong – the major one being the Hong Kong International Boat show held at Club Marina Cove. The 25th edition, held in late November 2024, had around 50 boats on display from Italy, France, Finland, Spain, the UK, USA, and China and attracted around 5,000 visitors over four days.
Read the latest marine business news from Hong Kong
Taiwan
After a six-year break, the Taiwan International Boat Show returned in November/December 2024. The event was held across four marinas in Kaohsiung – Horizon City Marina, KhaShing Pier 22 Marina, Argo Marina, and Basin No 3.
The return of the boat show is important to the country’s significant boatbuilding industry. Taiwan is Asia’s leading yacht exporter and is the fourth largest in the world. Hu Qijuan, deputy director of the International Trade Administration of the Ministry of Economic Affairs, pointed out in her opening speech that Taiwan has the highest export volume of large yachts in Asia and ranks fourth in the world, and plays a decisive role in the international market. She emphasized that exhibition platforms play a key role in promoting international trade, not only promoting in-depth exchanges within the industry but also bringing more business opportunities.
Recent distribution news includes Williams Jet Tenders expanding its network in Asia by appointing DCH Marine as its exclusive distributor for Singapore, the Philippines, and Taiwan. Amal Yachting now represents Beneteau powerboats and sailboats in Taiwan. The brand was previously represented by Simpson Marine, which was acquired by Italian boatbuilder Sanlorenzo in 2023.
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