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Greater Bay Area eyed as emerging yacht hub across Hong Kong and China
An industry veteran said berth expansion, new investment, and government support could help develop the region as a yacht market for luxury vessels.
A senior executive in the yachting industry said China’s Greater Bay Area has the ingredients to become an international yacht hub, linking Hong Kong and Macau with nine mainland cities as potential demand grows.
In an interview carried by SCMP Economy, Paul Brackley, CEO of yachting consultancy Central Yacht and a founding member of the UK’s Professional Yachtsmen’s Association, said luxury vessels could help unlock broader economic activity because yachting spending continues throughout a vessel’s operating life.
Brackley also described the region as potentially the most dynamic emerging yacht market across Asia, pointing to berth expansion, new investment, and government support as encouraging factors.
He added that the area’s size and market, including gross domestic product comparable to Tokyo’s metropolitan area, are recognized advantages, though he said they represent only one side of the picture.