Deputy Governor of Makkah Region Prince Saud bin Mishaal bin
Abdulaziz witnessed the signing ceremony at Jeddah Yacht Club.
The exhibition, scheduled to take place from October 14 to
17, 2027, as part of the Jeddah Events Calendar, aims to extend the reach of
the Monaco Yacht Show to Saudi Arabia and establish the Red Sea event among the
world’s leading yacht exhibitions.
The initiative is expected to strengthen international
partnerships, attract investment and showcase the Kingdom’s growing marine
tourism sector.
Saudi Arabia’s Red Sea coastline, stretching more than 1,800
kilometres and featuring over 90 natural islands and coral reefs, provides a
setting for year-round sailing and other marine activities.
Sela Managing Director Rakan Al-Harthy said the agreement
aims to establish the Red Sea coast as a permanent destination for the yachting
industry and marine tourism, attracting leading manufacturers, investors and
yacht owners from around the world.
He added that the exhibition would attract international
visitors, boost the hospitality, transport and marine services sectors, and
create employment and training opportunities for Saudi nationals.
The event is also expected to support Saudi Vision 2030
objectives for economic diversification and tourism development.
Tahaluf CEO Mike Champion said the company would draw on its
global network to attract leading businesses, brands and investors in marine
tourism, positioning the exhibition as an international platform for
partnerships, business deals and the latest industry developments.
He highlighted the Red Sea’s natural assets and its
potential to become one of the world’s leading yachting destinations.
Champion added that Tahaluf and its partners were working to
deliver an inaugural edition that meets the expectations of exhibitors and
visitors, laying the groundwork for an event that grows with each edition and
supports Saudi Arabia’s marine tourism ambitions.
The inaugural show aims to attract more than 50 yachts, 150
exhibitors and over 10,000 visitors, including yacht owners and industry
professionals.
It is targeting an economic impact exceeding $500 million
through yacht sales, charters and luxury tourism.
The exhibition will also highlight Saudi Arabia’s $22.4
billion in marine investments and major Red Sea developments, including
Sindalah and AMAALA.
Plans for the show’s first three editions envisage continued
growth.
The number of luxury yachts is expected to exceed 70 in the
second edition and 90 in the third, while visitor numbers are projected to rise
to 20,000 and 40,000, respectively.
Participating brands are expected to increase to around 200
in the second edition and 300 in the third, with the projected economic impact
reaching $800 million and $1.2 billion.
Jeddah Yacht Club and Marina will host the exhibition.
Its 94 berths can accommodate yachts up to 120 metres long,
supported by advanced facilities designed to meet international industry
standards.
The agreement marks another step in Saudi Arabia’s efforts to expand its international events portfolio and develop the Red Sea into a major destination for luxury tourism and marine investment. -TradeArabia News Service
