MONEY AHOY MATES!
Demand for the world’s largest, most expensive yachts is on the rise – have the dark clouds of recession finally cleared?
Amid the global recession, the worldwide market for luxury goods has plunged over the last one year – expected to shrink 10 percent for 2009, according to global business consultants Bain & Company. Since last September, yacht sales have plummeted across the globe. (Here to add about various boat manufacturing companies that stopped production during the recession).
But that’s not entirely affecting the yachting lifestyle and industry. According to a new survey carried out by Superyacht UK, the British market for superyachts have grown more than 15 percent during the fiscal year ending June 1, 2009. Overall revenue has increased to a record $663 million, and jobs across the industry have increased by five percent, according to the survey.