Chinese Boat Market Heats Up
China represents one of the most promising markets for recreational boats in the world. China's recreational boat industry grew 40% from 2005 to 2006. Imported yacht sales in 2007 were over US$70 million, an increase of 60% over 2006. With a GDP of USD $1.3 billion, China expects a demand of 550,000 boats.
No country in the world simultaneously maintains the most important two factors of competitive labor force and huge potential customers. These two factors make China the #1 market for international boat companies. The Olympic year in China brings another surge to Chinese people who are exploring recreational boating. With China's red-hot economic progress, infrastructure construction and improvements in government regulations, China's yachting industry has awakened to a new era.
It has been proven that the most successful yatch companies are those paying attention to the export market. According to a survey conducted by the American Chamber of Commerce, 86% of survey participants are optimistic about doing business in China.
During the early stage of the Chinese boat industry, a boat show is the only place where major players gather. Through boat shows, international companies will be able to accomplish their Chinese business goals by direct interaction with their Chinese partners, distributors and customers. Boat shows are the most effective way for product presentation, market testing, brand establishment as well as directly following-up with sales leads without physically being located in China.