$35 billion boost for GCC maritime sector

Source:  www.gulf-daily-news.com

JEDDAH: Maritime projects worth $35 billion will be implemented in the next three years across the GCC, including three major projects in Saudi Arabia at King Abdullah Economic City, Jizan Economic City and the Kingdom City, said an expert.

“Saudi Arabia remains strongly positioned to contribute to establishing the GCC as a premier boating hub because of the government’s proactive development initiatives,’ said Al Ahlam Marine Tourism Group chairman Prince Abdullah bin Saud bin Mohammed bin Abdulaziz Al Saud.

The kingdom’s only international leisure marine and tourism festival, Saudi International Boat Show, will be held from December 8 to 11 at the Al Furusya Marina and Yacht Club, Jeddah.

The Dubai World Trade Centre (DWTC) event is being endorsed by the Saudi Commission for Tourism and Antiquities and the venue managed by Al Ahlam Marine Tourism Group.

The event provides an ideal marketing and networking platform for leading industry players in the boating and maritime sector.

According to Prince Abdullah, the 2010 edition will showcase a broader range of marine products and services to cater to the growing number of maritime developments in the GCC.

“With its proximity to the Red Sea and the growing reclamation projects being undertaken, Jeddah in particular will be crucial in the government’s vision to harness the full economic potential of the maritime sector,” said Prince Abdullah.

“The boat show will serve as an ideal complementary initiative that will generate global awareness and drive more business opportunities in the country,” he said.

New business opportunities have emerged for international suppliers with the recent announcement of 12 major maritime projects in the Gulf, he said.

The GCC’s high disposable income likewise serves as a key catalyst for growth; a study on the salaries of senior management executives, who are key customers for yachts and luxury boats, has revealed that disposable income of managers in the GCC is the highest in the world, with all Gulf countries dominating the top six rankings.

“We have made extensive preparations to accommodate an expected increase in the number of visitors and exhibitors at this year’s boat show,” said DWTC chief executive Helal Saeed Almarri.

According to him, the event provides a consolidating platform that will leverage the surge in demand for various maritime products and services in the kingdom.

“We have studied feedback from last year’s participants, allowing us to further improve this year’s showcase that will include a much more comprehensive range of the latest super-yachts, leisure craft, accessories and services,” he said.

Many local and international leading brands, including Al Ahlam Marine Tourism Group, Al Khorayef Commercial Company, ART Marine, Blue Limits, Chehab Marine, Garmin, KB Marine, Mega Marine, Princess Yachts and Westport, have confirmed their participation.

The show attracted more than 37,000 buyers from all over the region during its inaugural event last year, the organisers said.

This year’s highlight will be dedicated Supplies & Services Pavilion that will group together regional dealers and distributors displaying an extensive range of navigation equipment, engines, fixtures and fittings.

The Marina Display Area will showcase top-of-the-range models from the world’s leading boat manufacturers in what is the largest display of super-yachts, leisure craft, fishing boats as well as power and sailing boats in the kingdom.

The Boat Show Dive Village, on the other hand, is Saudi Arabia’s only dedicated diving village, offering lessons, seminars and several other activities focusing on diving and marine tourism.

The show will also feature a full weekend of festivities, Prince Abdullah said.