“Aside from a few exceptions, the superyacht manufacturing industry centres around numerous German, Dutch, Italian and more recently some Turkish shipyards. Several of the German, Dutch and Italian yards offer very traditional superyacht platforms and build experiences and premium branding, with premium price tags attached.”
For Echo Marine Group's Co-Founder and Director Mark Stothard, upsetting the status quo has been a major motivation behind building up his Australian enterprise.
More than 400 yachts measuring 24 or more metres in length were sold around the world in 2018, and Asia-Pacific is expected to be the fastest-growing region in the years ahead, owing to a rise in wealthy individuals and growth of marine and water-based sports tourism.
China alone is expected to see an 8.1 percent annual rise in demand for yachts until at least 2022, a market driven by its growing base of millionaires and billionaires.
This global and regional backdrop therefore means that Australia, and Echo, are perfectly poised to pounce.
To see how Echo Marine Group is disrupting the global superyachting sector, see our in-depth, exclusive interview at www.asiaoutlookmag.com/outlook-features/echo-marine-group