In the area, the United Arab Emirates is a prominent country, where the maritime industry has a global value of about $24.5B, and recreational boating will be worth more than $1.2B by 2025.
The maritime sector is among the industrial areas playing a leading role in the Middle East’s economic growth. Jobs in this segment are increasing, as well as cooperation with various industrial areas, such as shipbuilding and maintenance, offshore exploration, logistics, and the manufacture of coastal facilities such as ports and marinas. The Middle East has vast coastal areas, access to extremely strategic sea routes that serve as a link between East and West, and abundant natural resources, such as oil and precious minerals. All of this has helped make this geographic region a vibrant maritime hub, distinguishing itself significantly in the industry. In the Middle East area, an extremely relevant country in the nautical field is the United Arab Emirates. The maritime industry in the UAE has a global value of about $24.5B and contributes 6% to GDP growth. This segment also includes recreational boating, an area that experts say will be worth more than $1.2B by 2025.
New Buyers Recreational boating is attracting a wave of new buyers, on average 15 years younger than buyers 20 years ago. They are generally people attracted to boating who do not have boaters in their families. Many of these people – some from abroad – have moved to the Dubai area in the past two years and approached recreational boating appreciating the available port facilities and favorable weather conditions. Moreover, it should not be forgotten that the UAE welcomes 8.08M tourists each year, attracted by the desire to try new and authentic experiences. In this context, boating is among the most popular recreational activities, followed by diving and water sports.
Boating Infrastructure The importance of boating in the UAE has led to significant investment in infrastructure. While new housing developments can contribute to the growth of the industry by enhancing the vast unexplored areas along the coast, investments are also being made in maintaining and upgrading existing infrastructure to improve its usability and help meet the needs of a rapidly expanding industry segment. An example of this trend is Abu Dhabi’s Khalifa Port, which will be able to accommodate extremely high volumes of maritime traffic. In the yachting sector, mention should be made of Dubai Harbour, the largest superyacht marina in the Middle East, which has now also become the new home of the Dubai International Boat Show. The UAE, like other Middle Eastern countries, has supported major reinvestment and infrastructure expansion initiatives to enhance the potential of the marine industry. Together with Bahrain and Oman, the UAE has also worked to loosen maritime permit legislation and simplify application processes. By eliminating bureaucracy and automating many activities related to the industry, faster turnaround times are provided that will be able to influence the lasting success of the boating economy and development in the region.
