Strong growth potential in Middle East boating industry bodes well for MEIBS

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Strong growth potential in Middle East boating industry bodes well for MEIBS
More than 30,000 leisure boats ply the Gulf waters

February 4, 2001

The Gulf region's marine industry is on a growth trend and according to marine market researcher Mike Derrett there are currently some 30,000 leisure boats in the region. As the number of marinas and boating clubs in the Gulf continues to expand, particularly in Kuwait, Oman and the UAE, the growth potential for the region's marine industry continues to climb. That's good news for the Middle East International Boat Show (MEIBS) which will be held at Airport Expo Dubai and the Dubai Creek Golf and Yacht Club, March 28-31, 2001 and is sponsored by Dresdner Private Banking.

"The Middle East International Boat Show presents a superb opportunity for marine industry representatives to get their foot into a market that has significant growth potential. The boating industry in the Middle East is just starting to bloom and this exhibition offers newcomers a great chance to meet with representatives from the boating industry's leading companies in the region. In addition, it offers exhibitors from companies eager to have a presence in the market, a great chance to network with consumers who are driving the market upwards with their demands for marine vessels for fishing and leisure activities too," said Derrett, who has been involved in the marine industry for 30 years.

Derrett, who has been conducting research for the global marine industry since 1989 provides consulting services to developing marine markets in various regions and is one of the leading authorities on the marine industry in Asia and the Middle East. As a regular contributor and regional correspondent for a leading trade international boating publication he is highly regarded in the marine industry and has conducted independent research for a variety of companies and professional associations. These include the Marine Division of the Al-Khorayef Group in the Kingdom of Saudi Arabia, the British Marine Industries Federation (BMIF), the United States' National Marine Manufacturers Association (NMMA), Volvo Penta of Sweden, Cantieri Riva S.p.a. of Italy, the U.K.'s Department of Trade and Industry, Raffles Marina in Singapore, Dahm Yaching in Germany and Siam Boatworks in Thailand.

Currently the UAE has seven marinas and boating clubs with an additional four (including the Dubai Marina) scheduled to be built in the near future. Kuwait currently sports seven marinas and boating clubs and another marina is due to be constructed in the near future. According to Derrett, this activity will have a significant positive impact on boat sales in the region in the near future.

More than 70 companies have confirmed their participation in the Middle East International Boat Show (MEIBS) to be held at the Airport Expo Dubai and the Dubai Creek Golf & Yacht Club, March 28-31, 2001. MEIBS is the biggest exposition of its kind in the Middle East and attracts high net worth and VIP buyers from all over the region.

While the main focus for leisure boating in the region is on fishing and diving, cruising on larger yachts is gaining in popularity and there are nearly 1,500 larger leisure yachts in the Gulf region mainly in Kuwait and the UAE . They represent a growing part of the Gulf market and Derrett says the UAE and Kuwait have particularly significant growth potential.

"These two countries have evolved from a tradition based on the sea, as pearl divers, traders and fishermen their entire culture focussed on water-related activities. Even today, Dubai, as a commercial hub, provides a water-link to numerous ports-of-call and the boating industry is critically linked to its economic pursuits," said Derrett noting that the continued expansion of both Kuwait's and the UAE's marina infrastructures is also supporting the expansion of the region's marine industry.

At present, there are more than ten boat distributors complemented by the presence of a larger number of boating equipment distributors in the UAE. Kuwait has similar numbers while Saudi Arabia being a more fragmented market with east and west coast boating areas has over thirty marine related outlets.

The Dubai World Trade Centre in the UAE and the RAI Group from Amsterdam, co-owners of MEIBS, agreed to implement an exciting new format in 1999. The main objective behind altering the exhibition format was to maximise its potential and attract visitors from further afield. This year a Work Boat Exhibition & Conference will run alongside the main exhibition, featuring commercial crafts under 40 metres in length. This is the first time the concept of work boats and a conference is being introduced with a view to transform a part of the show into a forum where technical and other industry-related issues can be discussed by and among professionals.

MEIBS is the largest exhibition of its kind in the Middle East. In March 1999, some 100 companies from Italy, the UK, Holland, Australia, Korea, Turkey, the UAE, Japan, the US and India participated in the event and an estimated Dhs80 million worth of business was conducted during the show.

The product profile of the boat show includes boats, boating equipment and services, engines, drives and propulsion equipment, trailers, chandlers, sails, ropes, masts, heating and air conditioning equipment, lighting, anchors, propellers, furniture and fittings, clothing and apparel, navigation equipment and systems, deck fittings, pumps, valves and accessories, communications and computer equipment, generator and electrical equipment, maintenance and hand tools, marinas, holiday and tourism, brokerages, charters, sports fishing products, diving products, jet skis and products, windsurfing products, water ski products, repair facilities and marine coatings.

MEIBS is sponsored by Dresdner Private Banking and Al Tayer Motors will provide official cars for the exhibition.

For more information, please contact:
Ashutosh Kumar, Public Relations Executive
Corporate Communications Division
Dubai World Trade Centre, PO Box 9292, Dubai (UAE)
Tel: 009714-3086083 Fax: 009714-3314853
E-mail: ashutosh@dwtc.com Website: www.dwtc.com