The success of Gulf region’s yachting future is based on a combination of a favourable regulatory environment, tighter  security measures and collective destination development, said experts at the recent Abu Dhabi Yacht Show (ADYS).

The third edition of the yacht show was organised in the UAE capital by Informa Yacht Group (IYG) from March 24 to 26.

According to experts, the changes in the Gulf’s regulatory environment need to be industry-driven and government supported and that alignment in permits and regulations is needed to move the industry forward.

“Any future investment in this sector must take into account security and regulatory issues that can have an impact on region’s massive potential,” said Richard Skinner, director of Orchid Group, which provides risk-management strategies focused on managing and maintaining security of yachts, owners and crew operating in the Middle East and Asia.

An expert on regulatory and compliance issues, Allan Linnitt of marine consultancy Henderson International, called for tighter and more consistent regulations to ensure continued growth.

“We need uniformity of regulations to make it easier for yacht owners to come in and out of various marinas throughout the Gulf. The current regulatory and clearance situation makes it not very easy for yacht owners to get from one marina to another, sometimes even within the same country,” he said.

Alongside addressing security and regulatory issues, Matthew Bate of Mourjan Marinas emphasised the need to develop domestic maritime destinations that will encourage yachting lifestyles to flourish among GCC residents.

The UAE capital, he said, has been at the forefront of developing marinas and yachting support facilities to cater for today and tomorrow’s needs.

“This strategic approach is exemplified at Yas Marina, which has been developed as a destination and events marina,” Bate added.

When assessing the opportunities for a sustainable charter market – critical to industry sustainability and yacht owner return-on-investment – Bates believes regional prospects must be looked at collectively.

"Although individual countries play a large role, it is the collective facilities, opportunities and experiences that will be the driving force behind a successful charter industry," he noted.

According to Bate, the UAE, Qatar, Oman and Bahrain have developed a strong reputation for hosting international sporting events.

"These activities can be a huge draw card for the charter market. Due to recent events such as the F1 at the Yas Marina Circuit, there has been a dramatic increase in visiting yachts to Gulf waters," he added.-TradeArabia News Service