World-Class Marine Destination
Recognising Thailand is a world-class marine destination with significant growth potential to become a leader in the regional luxury yachting market, Hong Kong-based Nextwave Yachting has invested in the country with the purchase of a significant stake in leading Thai luxury yacht dealership Lee Marine.
Founded in 1997, Lee Marine is a pioneer of luxury yachting in Thailand and represents some of the finest international yacht brands including being the official Thai dealership for award-winning Australian-built Riviera for more than 20 years. Recently, Lee Marine was appointed the sole Thai dealer for Sunreef Yachts – the world’s leading designer and manufacturer of luxury sailing and power multihulls – and caters to High Net Worth Individuals with a dedicated superyacht division offering superyachts for sale in excess of Bt3 billion.
Having helped to put Thailand on the global yachting map and being a key driver in the marine industry’s exponential growth over the past two decades, this unique partnership combines NextWave Yachting’s extensive marine industry experience from its Hong Kong base with Lee Marine’s established reputation in the luxury yachting sector to cater to the evolving needs of the luxury yachting market in Thailand.
“The acquisition of Lee Marine represents more than a business venture – it’s a union of shared principles and a convergence of visions,” said Frankie Chau, Chairman of Nextwave Yachting. “We see great potential for Thailand’s marine industry and this investment is a sign of our confidence in the industry and in the country. Together with Lee Marine, we will cater to the evolving needs of the luxury yachting market in Asia as well as further grow interest in yachting in Thailand.”
Dubbed the “marine playground of Asia”, Thailand’s stunning coastline and islands are the #1 drawcard for millions of international visitors each year and also for thousands of sailors from around the world who fly in to charter and cruise Thailand’s waters each year. The country’s world-class marine facilities, including marinas that can cater to superyachts upto 100 metres in length, and easy flight connectivity make Thailand a top destination for yacht owners to keep their yacht.
According to Statista, there were more than 125,000 Thai US dollar millionaires in 2021, a number that is expected to grow to more than 162,000 by 2026. This increasing number of High Net Worth Individuals coupled with an expanding middle-class bodes well for the growth for luxury yachting amongst Thais.
“Thailand’s marine industry is an important economic contributor to the country, supporting thousands of Thai workers directly and many more indirectly,” commented Joshua Lee, Founder and CEO of Lee Marine. “While Thailand’s luxury yachting sector has traditionally been fueled by international buyers and charterers, in recent years there’s been a considerable rise in boating interest amongst Thais. We’re seeing a growth in the number of Thais getting out on the water as well as growth in local boat ownership. Our partnership with Nextwave Yachting will enable us to cater to this growing domestic interest while continuing to service and grow international interest in luxury yachting in Thailand.”
Combining their expertise and with a shared vision to position Thailand as the marine leisure hub in the region, Nextwave Yachting and Lee Marine are confident in the future of yachting in Thailand, and are committed to delivering exceptional service and unparalleled experiences to discerning clientele.
Source: Infinity Communications.