As Dubai is set to grow its High Net Worth Individuals (HNWI) 39 per cent by 2026, Dubai International Boat Show (DIBS), the region’s largest and most established marine lifestyle show, welcomes a surging interest from international investors and enthusiasts eager to take part in the highly anticipated maritime showcase.
Celebrating its landmark 30th edition at the largest and most sophisticated marina in the region, the five-day show, which runs from February 28 to March 3 2024, promises an unparalleled showcase of maritime excellence, cutting-edge technology, and innovative displays. Organised by the Dubai World Trade Centre (DWTC), the international show is set to welcome a new wave of investors and High Net Worth Individuals (HNWI) to the emirate.
Global pioneers
Up to 1,000 brands will gather at the 30th edition, with 200 boats expected on land and water. These will include crafts from leading shipyards, including Azimut, Cranchi, Gulf Craft, Ferretti, Princess, Sanlorenzo, Sunreef and Sunseeker Yachts, the 2024 show serves as a comprehensive platform for premiering innovations, announcing new launches, and fostering fresh business prospects with both global leaders and pioneers from across the Middle East and North Africa (MENA).
Chairman of Gulf Craft, Mohamed Alshaali, said: “I am pleased to announce our participation in the 30th edition of the Dubai International Boat Show. This important industry event has been a constant in our journey, representing our commitment to the art of luxury yacht craftsmanship.
“We look forward to presenting our latest vessels, embodying innovation, and maritime excellence. The show mirrors Gulf Craft's development, reflecting our ongoing dedication to pushing the boundaries of marine luxury."
Meanwhile, long-term exhibitor Sunreef Yachts has confirmed it will bring a line-up to the show including all-electric catamaran 80 Sunreef Power Eco and Sunreef 80 Eco.
Francis Lapp, Founder & President of Sunreef Yachts, added: “It is extremely important for us to push the electric transition forward. We want to promote a cleaner boating experience and the DIBS is a wonderful opportunity to do so. We want all the visitors to witness how luxury and sustainability can be combined.”
DIBS annually encapsulates the MENA region’s enviable position as one of the richest maritime landscapes anywhere in the world, boasting the second-highest fleet-to-billionaire ratio globally. Acknowledging both its regional and international market potential, DIBS aligns its growth with the UAE’s rapidly expanding number of HNWIs, expected to reach more than 228,000 by 2026, a 39 per cent increase, according to a March report by Consultancy Knight Frank. The region is currently home to 12.6 per cent of the world’s superyacht fleet and recent forecasts predict a substantial expansion, with the luxury yacht market expected to grow from US$306 million in 2022 to a projected US$481m by 2028.
Across the maritime industry and beyond, global investors and entrepreneurs alike are increasingly choosing Dubai to be a home for their growing businesses and projects. The emirate’s attractive ecosystem for startups and entrepreneurs, long-term residency scheme, impeccable infrastructure, and dynamic calendar of events are all elements contributing to its worldwide appeal.
Dubai’s position as both an aspirational destination and global power hub was further reinforced when the city was selected to host the UN Climate Change Conference, COP28, which concluded in late 2023 with a historic agreement to move away from fossil fuels across all sectors, including the maritime industry.
This commitment to a greener future for the country’s maritime industry was exemplified by the recent unveiling of the Dubai Reef project, launched under the directives of HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, during COP28.
Led by the Dubai Department of Economy and Tourism (DET), the 400,000 cubic metre project is one of the world's largest marine reef developments. It will contribute significantly to ensuring the sustainability emirate’s fishing industry, as well as emphasising the importance of the emirate’s rich maritime heritage and supporting the city’s credentials as a responsible tourism destination.
Tourism drive
Thanks in part to headline events such as COP28 and the 2023 edition of Dubai International Boat Show, the UAE's tourism sector as a whole saw positive performance indicators in 2023, with hotel revenues in the country reaching AED32.2 billion up until September 2023, showing a growth rate of 27 per cent compared to the same period in 2022.
Trixie LohMirmand, Executive Vice President, Events Management, at DWTC, said: “Dubai increasingly attracts international investors and yachting enthusiasts as the city continues its collective efforts in evolving the marine industry with its growing yachting amenities, offerings, and facilities, fostering a comprehensive nautical ecosystem.
“Moreover, UAE’s emphasis on sustainability including marine sustainability has drawn further interest globally aligning with the country’s vision to achieve net-zero emissions by 2050 evidenced in the successful hosting of COP28.
“Dubai International Boat Show underlines this region’s passion for the maritime sector and Dubai’s ability to host events that bring the world together. Growing from humble beginnings in 1992 to the internationally renowned experience that DIBS will be again in 2024 demonstrates how the show has developed alongside the unstoppable evolution of Dubai.”
Dynamic showcase
DIBS 2024 will be marked by a dynamic showcase both on land and water, with hundreds of boats creating a captivating vista for visitors, as well as a rich landscape for investors and those seeking to answer the call of the ocean. A lynchpin in Dubai’s maritime sector and year-round events calendar, DIBS offers unmatched networking opportunities in addition to a glimpse into the future of marine technology and design, or seeking an unforgettable and luxurious lifestyle experience.
The 30th edition will once again welcome DIVE MENA, the only dedicated show for the UAE and GCC diving community; a networking evening for captains, and a celebration of local talent through the Proudly UAE initiative that honours the country’s rich maritime heritage.
Supercar Avenue will showcase a rare and exclusive line-up of the world’s most coveted cars, while the Marine Art Gallery presents a distinctive collection of sea-inspired pieces crafted by internationally renowned artists, adding an artistic touch to the immersive experience.
The annual Middle East Yachting Conference (MEYC) will act as a curtain raiser for the show on 27 February, leading the conversation for yachting professionals and enthusiasts alike to delve into the maritime industry’s most pressing topics and unify the entire sector.
With the 2024 edition of DIBS unveiling, visitors are urged to gear up for an experience that promises to be both enriching and unforgettable. It all takes place in the luxury maritime hub of Dubai Harbour, where the emirate’s first dedicated superyacht marina can house craft up to 160m in length.
