Despite the global financial downturn many nations, individuals and governments have been affected by, it seems that true monetary elite remain unaffected, as does their evergreen desire to purchase lavishly outrageous possessions.
One of the most lavish creations available to purchase is the SuperYacht – sea-roving playgrounds for the rich and famous, invariably containing luxury within luxury, like a Russian doll of decadence, each layer revealing more cinema rooms than the last. Now, reports have surfaced that sales of SuperYachts have actually increased, with a number of emerging markets creating a whole new client base.
Apparently, the blistering economy of China is creating a new breed of super rich individuals, and these wealthy easterners have just as much of a taste for luxury as their western counterparts. In fact, it appears that SuperYachts have become the new ‘must-have’ item for rich Chinese.
A report commissioned by CitiBank revealed that Asia and the Middle East is showing new trends for purchases of SuperYachts, as CitiBank head of wealth management Davis Poole explains: “Spending patterns on conspicuous luxury are way up in emerging market countries, while substantially depressed in the developed world. This is yet another sign of the flux in wealth from West to East, and a trend that will continue to grow over the next decade.”
While SuperYachts are the relaxtion method of choice for those with unfathomable bank balances, yachts also offer oportunities for more modest-minded expatriates. If you're interested in a life on sea, then you may consider becoming a Yacht Crew Member, a role that offers many perks and benefits.