While many of its neighbours are reducing their spending, Qatar continues to lead the region in luxury items’ purchases.
In a survey conducted this year, American Express Middle East questioned high income households in the GCC and discovered that nationals and expatriates in Qatar spend upwards of $4000 on luxury items per month. This number is double the average of $2000 found in the poll. With Qatar’s passion for luxury shopping showing no signs of slowing down, pollsters noted that this phenomenon was expected to continue.
Nowhere was this more evident than at the recent Qatar International boat show (QIBS’16) in Mourjan Marinas in Lusail City. With one out of every eight of the world’s super yachts being purchased in the Middle East, QIBS’16 provided a vibrant exhibition for vendors to court many prospective buyers. Catering to this demand, local and international retailers moored their opulent luxury yachts at QIBS’16 for four days. Some of the luxury yachts on display came with sticker prices that passed the million Euros mark. For example, Art Marine of Dubai’s exhibited the Riva 68’ Ego Super and Riva Perseo 76’ with asking prices of 3,730,000 and 4,640,000 Euros respectively, while noted super yacht the Silver Fast topped the list at 80 million Euros.
Routinely, yachts with price tags such as these come with a host of amenities designed to woo would be buyers into opening up their chequebooks. Depending on size and price range, luxury yachts can offer new owners spacious salons, spas, swimming pools, game rooms, hot tubs, helipads and even private theatres. Furthermore, once purchased, a private yacht may not be complete without a staff of ship crew for operations and hospitality.
QIBS’16 ran from Wednesday, December 7 to Saturday, December 10. For more information, please visitwww.qatarboatshow.com.qa, or follow QIBS16 (Facebook), QIBS16 (Instagram) and Qatar International Boat Show (YouTube), for the latest news from Qatar International Boat Show 2016.
To learn more, please visit the website of Lusail City: www.lusail.com
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