Charting A New Course
The PEAK Malaysia|December 2019
The Taiwan International Boat Show 2020 is set to be the biggest indoor boat show in Asia
Chong Jinn Xiung
Charting A New Course

Think of luxury yachts and Western brands from Europe and America may spring to mind. Even so, you would be surprised to know that Taiwan has a solid reputation as an importer of high-quality yachts used for recreational boating that rival that of their European counterparts.

In recent years, the Asian market has gradually emerged with Hong Kong and Singapore poised to serve as the yacht trading centers in the region due to the geography and concentration of high net worth individuals. The growing luxury yacht market presents an opportunity for Taiwan as its shipbuilding know-how and technology are second to none in the region.

By the numbers, Taiwan is considered the fifth largest producer of yachts in the world and the biggest in all of Asia, attracting international recognition. In 2018, Taiwan yacht manufacturers sold a total of 86 medium and large yachts with a total export value of MYR6.8 million (USD1.62 million), an 8% increase over the previous year.

That number is estimated to increase to MYR7.9 million (USD1.9 million) in 2019 with the export of 90 yachts. Much of Taiwan’s well-established yacht industry is centered around in the port city of Kaohsiung, located on the southwestern tip of the island.

Home to more than half of the island’s boat builders, Kaohsiung boasts the largest harbor on the island and is the perfect location for its ambitious boat builders and has been known as a popular destination for massive superyachts.

This story is from the December 2019 edition of The PEAK Malaysia.

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This story is from the December 2019 edition of The PEAK Malaysia.

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