Sun, Apr 17, 2011 - Page 11 News List

Asia’s mega-rich flash their cash with superyachts

By Philip Lim  /  AFP, SINGAPORE

Treadwell said more visits by superyachts from other parts of the world would spur development of the industry in the region.

“We want them to come here because the more they come here the more exposure there is for the other people in the region who’ve got the wealth, who’ve got the money, but who don’t know anything about yachting,” he said.

A total of 81 superyachts visited Singapore last year compared with 16 in 2006, according to the Singapore Superyacht Association.

More marinas are being planned in Singapore as well as other Asian countries such as China, South Korea and Indonesia.

China in particular is planning for “hundreds of marinas” along its lengthy coastline, while Indonesia intends to introduce them in poor, outlying coastal villages to help alleviate poverty, Lavigne said.

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