China's middle class will be interested in yachts

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The Chinese yachting market has become much bigger, is no longer just for the very rich, and will continue to grow. These are the conclusions reached by the Oriental Morning Post after analyzing the China International Boat Show.

During the event 550 boats were displayed, most of them small and inexpensive (costing about $16 thousand). It is clear that many manufacturers are not focusing on the affluent citizens of China but rather on those on more modest incomes in an effort to increase their presence in the region.

Consumers have also changed their attitude to boats. Whereas previously the purchase of a private vessel was just a confirmation of status, people have now started to take a real interest in the issue, says a spokesperson from the China Boat Industry and Trade Association.

So far, about 1,300 boats have been registered in the country. People are expected to buy another 100,000 boats in the next 10 years.

At that, about half of the future boat owners will be of middle class.

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