Taiwan Boosts Yacht Export
Taiwan's yacht industry saw its first double-digit growth in nearly a decade, indicating an inspiring revival led by development and sales of larger leisure boats, reports Chinese newspaper Commercial Times.
The export value of Taiwan-made yachts hit US$172 million, up 13.16% year-on-year and marking the highest growth figure in five years. This is the first two-digit figure since the aftermath of the 2008 global economic crisis nearly halved Taiwan's sales of exported yachts to US$144 million in 2010.
According to Chang Shueh-chiao, secretary-general of Taiwan Yacht Industry Association (TYIA), the growing export figures and the addition of US$10-20 million in local sales in 2014 are signs that the luxury boat industry in Taiwan can take a breather.
Taiwan's yacht makers, stressing quality rather than quantity, are expecting to increase export value this year, says local analysts. A total of 120 yachts were sold overseas in 2014, 19 fewer than in 2013. Given that the majority of the models sold last year were pricier, larger yachts, the total revenue still managed to go up. The trend is a sign that the industry is moving towards high value, large yachts, said Chang.