From Doha to Monaco: Navigating the yachting economy

euronews (in English)

The yachting industry is on a thrilling journey toward sustainability. New technologies are creating eco-friendly yachts that combine luxury with environmental care.

Transcript

00:00Modern designs, sleek interiors and elegant sails, the multi-billion dollar yacht industry

00:07is being powered by rising affluence and demand for luxury experiences.

00:13From super yachts to sustainable boats, we're going all aboard and setting sail in style.

00:22Welcome to a special episode of The Exchange from the inaugural Qatar Boat Show here at

00:28the Old Doha Port.

00:29Coming up on this episode, we speak with Ahmad Al-Amiri, CEO of Al-Amiri Holding, the exclusive

00:36dealer for Azimut, the famous Italian yacht maker for his thoughts on how the company

00:41is taking luxurious super yachts to the next level.

00:46And we meet Muhammad Abdullah Al-Mullah, CEO of Old Doha Port, who's taking the brand internationally.

00:54According to Deloitte, the global yachting market hit a value of $36 billion in 2023.

01:01That's an 11% jump from the previous year.

01:04North American and European buyers dominate the clientele, accounting for 70% of global

01:09sales.

01:10Here in Qatar, the Old Doha Port is eyeing a slice of that lucrative market.

01:16The sprawling 800,000 square meter space boasts 450 berths for boats up to 160 meters long.

01:24And with a vibrant mix of retail, dining and hospitality options, the port is also the

01:30only point of entry in Qatar for cruise ships to dock, attracting tourists and the global

01:35yachting community alike.

01:38Well, Italy's super yacht sector holds nearly 55% of the market share, making it the global

01:44leader.

01:45Looking around the Qatar Boat Show, you can see the popularity of Italian yacht makers

01:49like Azimut, which has retained its status as the world's number one yacht maker.

01:55And joining me now is Ahmad Al-Amiri, CEO of Al-Amiri Holding, which are the exclusive

02:01dealers for Azimut Yachts in the Gulf region.

02:04Ahmad, what are some of the biggest trends that you're seeing in the luxury yacht market?

02:10I would say, first of all, design.

02:12The second thing I would say is comfort and livability.

02:17What is it about the Italians that they make such good super yachts or yachts in general?

02:21I would say taste, first of all, honestly.

02:23So if you look at Italian cars, Italian yachts, the design itself makes a big difference and

02:29a big impact, I would say, on their products.

02:31So today, you can easily see the difference between the Italian yachts and any other,

02:37even European yachts, by the design itself and the taste.

02:41That's why I think they are succeeding very well in this field and other fields as well.

02:45I think it's difficult to compete with them, so that's a good thing.

02:49Ahmad Al-Amiri, thank you so much for joining us.

02:52Thank you so much.

02:53Appreciate it.

02:54While we're here enjoying the activities, the Old Doha Port has also been exploring

02:59waters far beyond the country's shores.

03:02The port recently took part in the prestigious Monaco Yacht Show, where our reporter, Michael

03:07Fiddler, got a chance to catch up with the CEO, Mohamed Abdullah Al Mullah.

03:14Hi, Laila.

03:15Well, as you can see from behind me, I'm a long way from Old Doha Port, here at Port

03:21Hercule in Monte Carlo, for the 33rd Monaco Yacht Show.

03:27With over 120 of these luxury super yachts on show, as well as 500 exhibitors showcasing

03:35some of the best yachting technology and innovation.

03:39The prestigious Monaco Yacht Show is a hub for the worldwide yachting industry, and for

03:44that reason Qatar's Old Doha Port has chosen to exhibit here, looking to establish its

03:50global brand and promote the Qatar Boat Show.

03:53Monaco Yacht Show is a very important show for us to be present on and exhibit our destination.

04:01Qatar Boat Show is the next level of objective that we are heading toward, where we will

04:07have so many benefits from it, locally or internationally.

04:10Sustainability is a theme at this year's Monaco Show, as super yachts come under scrutiny

04:16for environmental impact.

04:17Although technology like the solar power system on Sunreef's electric motor yacht, Athena

04:222, show the industry moving towards a greener future.

04:26I have a lot of customers, when they heard about the consumption of our boat and the

04:30way it's built and all of the philosophy, I can really see that owners are more and

04:37more sensitive on the aspect of pollution.

04:40With the global super yacht industry set to grow by 10% over the next five years, most

04:46people here see new green technology as key to its continuing success.

04:53Sustainability and green technology will continue to shape the industry by challenging how yacht

04:58makers think about design.

05:00And while all the signs point to a smooth sailing outlook, there have been concerns

05:05about what could rock the boat.

05:07Joining me now is Edward Chakra, General Manager of Gulf Yachts.

05:11Edward, how do you view the competitive landscape of the luxury yacht market?

05:16The younger generation are looking for bigger boats.

05:19We are receiving recently more demands on boats 100 footers plus.

05:26People are looking at it eco-friendly, so it's also the running cost of boats, it's

05:31very expensive.

05:32So people want bigger boats, but less fuel consumption.

05:37So this is why we are looking more into electric engines.

05:40So the future, more aggressive designs, more futuristic designs are coming up.

05:47What makes Gulfcraft so successful, it's the varieties of boats and yachts they have.

05:53We are the leading yachting company in Qatar.

05:56The yacht that we are sitting on at the moment, the Majesty 120, it's my favorite of all of them.

06:02What makes us different than other companies is there is an Arabic touch in the boats.

06:08That means in the layout, in the design of the boats, in the interior.

06:13So all of this, this is what makes Gulfcraft so successful.

06:18Now it's time for our regular feature, Business in 60 Seconds.

06:21Start the clock.

06:22Nike is preparing to announce its second quarter financial results of 2025 as it welcomes a new CEO.

06:29Elliot Hill, who previously served as President of Consumer and Marketplace for the sportswear giant,

06:35is coming out of retirement to lead the company.

06:38Shareholders are optimistic that Hill's vision will guide Nike towards a successful turnaround.

06:43Walgreens Boots Alliance is set to release its first quarter earnings for 2025,

06:48following the appointment of Anthony Hermedinger as Managing Director of Boots UK and Ireland.

06:53This comes as the British pharmacy chain is looking to sell its 2,200 stores with a $9 billion price tag.

07:00And FedEx is gearing up for its second quarter 2025 earnings release,

07:05announcing a major deal to buy 50 Boeing 767-300 planes as part of its fleet modernization initiative.

07:13This strategic move, valued at nearly $10 billion,

07:16aims to enhance operational efficiency and improve service for customers around the globe.

07:23From Monte Carlo to Doha, it's been fun taking you around two prestigious international yacht shows,

07:30with the historic Monaco edition keeping up with changing trends,

07:33and the new Qatar Boat Show adding a stop for yachting enthusiasts.

07:38Luxurious design, sustainability and new technology promises to steer the growth

07:43of the global yachting industry into new horizons.

07:47Well, that's all the time we have for on this edition of the show.

07:50Thanks for watching.

07:51Please do check out euronews.com for all your latest business news

07:54and join us again next time on The Exchange.

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