There is a trend within the yachting community for bigger vessels and purchases of luxury products, an expert claims.
National Boat Shows group marketing manager Michael Enser explained superyachts are leading the sector, while the mid-market saw sales affected by the downturn.
Individuals investing in a boat may also be looking for a UK insurance policy to cover it, particularly with Mr Enser pointing to a rise in high end spending.
According to recently published statistics from the British Marine Federation, total revenue generated by the leisure, superyacht and small commercial marine market in the UK during 2009-10 dipped by 6.2 per cent compared with the previous year to £2.963 billion.
However, the National Boat Shows expert forecasts a return to growth as “our audience are passionate boaters, it’s their hobby and people tend to invest in their hobby when times are tough because it is the thing that gives them comfort”.
Source : Giles Insurance Press Release