- The global yacht and luxury vessel market is registering steady growth that’s expected to continue to 2025 and beyond
- Economic stabilization and an increased interest in marine and coastal tourism have ranked among the most prominent factors for the positive market trend
- Companies like Victory Marine Holdings provide excellent investment opportunities because of the tailored, comprehensive range of services available
Throughout 2018, Victory Marine Holdings Corp. (OTC: VMHG) has been working on ensuring vertical growth opportunities and increasing its number of core directions. Two of the primary objectives announced in September 2018 were to increase the company’s inventory and the size of its sales team. Both of these strategic improvements aim to respond to the growth of the yacht industry that occurred in 2017 and 2018 and that is anticipated to continue.
Per reports, 2017 was the busiest year for the market since the financial crisis. According to industry experts, the year marks the best results since 2007, and this positive direction is expected to remain unchanged in 2018 and beyond (http://nnw.fm/iX10E).
The U.S. market is still at the forefront, showing signs of strong economies and a positive overall outlook. The size of the global leisure boat market is predicted to reach $51.37 billion by 2025, which represents a CAGR of 4.3 percent over the forecast period (http://nnw.fm/5ZFmU).
Apart from the U.S., other countries are also expected to drive the growth of the luxury vessel market. The Asia-Pacific and Middle East markets are expected to create regional opportunities for market augmentation. Developing economies, particularly those in the Asia-Pacific region, are also working on growing their yacht infrastructure. Such decisions will contribute to better opportunities for those interested in the acquisition of luxury vessels (http://nnw.fm/WEHu2).
Several other factors will be contributing to consistent growth over the coming years. Marine and coastal tourism activities have been gaining popularity, and they’ll be one of the growth drivers. There has also been an increase in the number of high net worth individuals that will affect the yacht and boat market favorably.
Reports suggest that Europe and North America have been registering an increase in expenditure on sports and recreation. Furthermore, new technologies will be making yachts safer, easier to use and more accessible to a broader range of high net worth individuals.
Victory Marine Holdings is one of the leading players in the luxury vessels niche worldwide. In 2014, the company opened doors as a world-class yacht sales brokerage and consulting firm. Its management team has over 25 years of experience in the boating industry. Over the years, the company has partnered up with leading manufacturers, and the Victory Marine experts know what it takes to guide a potential customer through the purchase or commissioning of a boat.
VMHG’s credo is extensive communication and offering clients a “one-stop shop” approach. A portfolio of comprehensive services provides clients with opportunities to get specialized consulting, buy, rent and maintain yachts. Investment advice is also provided to those considering the purchase of a luxury vessel as an investment opportunity.
For more information, visit the company’s website at www.VictoryMarineHoldings.com
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