Turkish Yacht Builders
Turkish Yacht Builders
Turkey has seen many generations of its people dedicated to the yacht building industry. It’s the third-largest yacht manufacturer of luxury yachts after the Netherlands and Italy. The yacht industry is distributed in three regions throughout the entire country. Turkish yacht builders are very professional and dedicated to their work.
- Antalya Free Trade Zone
- Istanbul’s Tuzla district
- Bodrum in Mugla province
Yacht Market in Turkey
With immense experience in this business, Turkish yacht builders claim an output fleet of a total of 391 vessels which are higher numbers than many of its competitors like the UK, Germany, and the UAE. This output increased a little in the mid-90s and stayed consistent until 2006, after which, it saw a 76% boom but only within the next two years due to a decrease in the foreign demands, global financial crisis, and contraction of gross domestic product (GDP).
The contraction died in 2013 and the Turkish yacht builders could see the spiking figures similar to the year 2005. Since the economic crisis, the shipping industry decided to focus on a limited niche market which resulted in only 20%of exports from the yacht industry. The focus on only one type of particular product made them ahead of China in the business.
Turkish yacht builders believe in maintaining the quality of their products while expanding their product’s range with efforts in improving the skill base through higher education, R&D in developing new technologies, and searching for other niche markets where they can bring their expertise.
Business Partners and Estimate Earnings of Turkish Yacht Builders
The major customers of Turkish yacht builders are; the USA, Qatar, Croatia, Netherlands, Russia, Portugal, Ivory Coast, and Djibouti.
The Antalya Free Zone alone made around $93 million selling 47 yachts in 2019, thus making a total of 130 total yachts produced here and 111 returned for maintenance. An investment possible in the near future will bring the ability to build 50 yards (ca. 46 m) and 90 yards (ca. 82 m) capacity yachts in the coming years.
Turkish yacht builders’ offer such a deal that other manufacturers don’t. This is great craftsmanship with comparatively lower prices due to the high-quality goods developed in Turkey. Thus, the customer feels extremely comfortable with the marine expenses and wintering costs as they have a lot of experience in those areas.
Related Article: Quick Tips About Buying A Yacht In Turkey.
- Hurriyet Daily News (hurriyetdailynews.com). (2020, January 7). Antalya yacht builders rake in over $1 billion. Hürriyet Daily News. <https://www.hurriyetdailynews.com/antalya-yacht-builders-rake-in-over-1-billion-150696>