Indonesia, an upcoming luxury yacht market

by Syelly Phie on 27 Jul 2012 Yachts Indonesia 2013 would be hosted in Jakarta, Indonesia and expected to attract more than 6000 visitors and set the pace as one of the leading luxury yachting lifestyle exhibition in the region. This unique yachting extravaganza would showcase the latest yachts and boats to the growing class of Indonesian millionaires with massive dispensable income.

The Global Wealth Report, by the Credit Suisse Research Institute, revealed that Indonesia’s total wealth increased by US$420 billion to $1.8 trillion from January 2010 to June 2011, and was among the top 20 highest contributors of wealth growth. Millionaires in Indonesia are also expected to increase from 112,000 in 2011 to 242,000 millionaires in 2016. (Source: The Jakarta Post, 21 Oct 2011)

There is a growing amount of highly affluent local Indonesians and expats in Indonesia searching for Yachts and leisure crafts. Pantai Mutiara in Jakarta, which many of the rich reside, provides direct access to personal yachts and boats at their very own backyard.

The PIB Customs Bond has been eliminated by the Indonesian Customs Department and replaced with a new and more amicable system. The new law in effect from 3 December 2011, forms the framework to ease the regulations regarding foreign yacht visits, create conditions that will encourage investment and facilities, and stimulate the general economic development of coastal communities.

The positive outlook and the recent forecast by the World Bank signaling the end of the recent economic crisis, is a positive sign to the start of 2013. Consumer spending especially on luxury items including Yachts would definitely be on the up during these thriving times of recovery.

At least 70% of Wealthy Jakarta based millionaires loves to spend their leisure in luxurious items. With our in-house database and strategic media partners in Singapore, Malaysia, Indonesia and China, Yachts Asia, Bali 2013 would have access to the database of high-profile figures in these countries including Middle East.

Most of the reputable Yachts and luxury brands have already booked their booths at Indonesia Yachts Show 2013 to avoid being 'forgotten.' Being an event targeted at the highly affluent, exhibiting in the show is crucial to established yachting and luxury brands to help maintain its reputation as a market leader in their respective product categories and as a reminder to existing or new customers of their reputable market presence.