"The domestic Thai boating market is poised for tremendous growth at all levels - from superyacht charter to day trips to sailing lessons; we have listened to our long-term repeat exhibitors and partners, all of whom are excited at this opportunity to address the Thailand market on its doorstep," said Mr. Andy Treadwell, CEO of Verventia, adding that the potential direct and indirect impact of yachting tourism on the Gulf of Thailand's tourism-related economy is massive.
"As a result of all the restrictions during the pandemic, for the past two years we have had to skip our longstanding Yacht Shows in Thailand and Singapore - both much-anticipated calendar fixtures for yachting enthusiasts and businesses. So we are really looking forward to this year's Thailand show coming back to life finally, and are honored to have such a prestigious organization as AXA Thailand General Insurance become our main Strategic Partner - I believe we will be working together for our mutual benefit for many years to come. Of course, I would also like to convey our grateful thanks to our other supporters including the Tourism Authority of Thailand (TAT), Thailand Conference & Exhibition Bureau (TCEB), Ocean Marina Yacht Club, The Renaissance Pattaya Resort & Spa, Inter Media Consultant Co., Ltd. (Bangkok Motor Expo) along with our Media Partners as without their support, we would not have been able to hold this year's Show", said Mr. Treadwell.
Mr. Claude Seigne, CEO of AXA Thailand General Insurance, commented, "We are delighted to partner with Verventia as the Official Insurer of the Thailand Yacht Show 2022. Being part of this prestigious event is naturally a source of pride for all of us at AXA Thailand. The TYS is the perfect platform to promote our insurance products and to expand our business network among visitors and yachting industry professionals. By this partnership, we expect to bring more visibility on the full suite of our insurance products that extend to private art, yachts, villas and luxury lifestyle. It gives us also the possibility to reinforce our commitment to be a partner to our customers as well as the brand image of quality associated to our insurance products and services."
Verventia has been instrumental in developing the yachting industry in Asia, and especially in Thailand, as Treadwell and his team believe that the country is a unique destination for the global superyacht owners to visit the whole year round - especially during the European winter months when it is too cold to stay in the Mediterranean. As a result of the company's perseverance during the past six years the Minister of Finance finally approved, in February last year, changes to regulations pertaining to superyacht chartering licenses that now allow superyachts - nearly all of which are foreign-flagged - to charter legally in Thailand.
Thailand historically welcomes less than 1% of the global superyacht fleet every year, but is now in a position to tackle this luxury travel segment, which has emerged post-pandemic as the travel industry's fastest growing sector.
"Future global superyacht market growth is going to come from Asia - and especially from the north-east Asia countries neighbouring Pattaya and the Gulf of Thailand. An imaginative marketing campaign, with the right financial backing, can turn that 1% around, with the potential to attract over 200 superyachts by 2026, injecting at least US$1 million per yacht (in overheads, charter tax revenue and associated local costs) per year directly into the local economy. And that is just the beginning. If yachts can be persuaded to stay for the whole season, each one will spend on average US$ 5 million - not counting the spending of their charter guests, who themselves are of necessity some of the wealthiest people in the world," revealed Mr. Treadwell.
Source: Image Impact Ltd.