'China becomes the new destination for superyachts': WealthBulletin

3:28 AM Sun 5 Jul 2009 GMT
Sales of super-yachts are likely to soar in China, as the country is forecast to overtake the rest of the world in millionaire numbers.

'The Asian market, particularly China and Hong Kong, is one of our most important and fast-growing areas of growth, with around 20% of our growth coming from there in 2008,' said Luca Cristino, general manager of Azimut, an Italian super yacht builder.

'While there is not much of a culture for cruising, our clients there are looking for luxury toys for entertaining. There is no real yachting infrastructure there yet but we expect this to change over the next few years.'

Full story:
www.wealth-bulletin.com/rich-life/rich-monitor/content/1054575050/

[SW Asia Editor's note: Another in a long string of 'China about to boom' stories that we have seen over the years. Just don't hold your breath...]

by Tara Loader Wilkinson, WealthBulletin.com

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