Back in the gloomy days of 2008, at the start of the global financial crisis and the impending storm that would affect the leisure boating industry in europe and the uS, the Gulf was seen by many as a market that would provide a lifeline for the boating industry. However, these economies in turn suffered a slump in the face of a collapsing property market and a fall in the value of global investments held by many Arabs.
Amidst the economic turmoil, the boating market inevitably suffered, boat sales were significantly down and marinas worked hard to find customers for berths. By 2012, and into a recovering gulf economy, the boating business seemed to be back on track,
But by early 2015 significant issues have appeared, putting the recovery into question.
Note: This is an excerpt of the latest report on the Gulf market report published in the June/July 2015 edition of IBI magazine. IBI Plus subscribers can download the report in full from IBI Plus website.