The superyacht industry is one of the unique subsectors of the leisure marine industry. Unlike other subsectors, the superyacht industry depends largely on the presence of billionaires within the economy, as the price of a superyacht starts around $15 million and regularly goes beyond $200 million. In this regard, the performance of the superyacht industry depends on the ability of the economy to produce high networth individuals (HNWIs). This paper, therefore, explored the effects of HNWIs on the Superyacht industry. The paper used both content analysis and descriptive statistics to evaluate this phenomenon. From the analysis, the paper noted that the net worth of individuals, tastes, and preferences of the consumers played an integral role in determining the consumption of superyachts. Therefore, the increase in HNWIs was vital for the growth of the industry. In conclusion, the research suggested more studies on the relationship between wealth and performance of the superyacht industry should be undertaken to better understand it.
Inhaltsverzeichnis (Table of Contents)
- Abstract.
- CHAPTER ONE: INTRODUCTION.
- Background to the Study..
- Aims and Objectives........
- Significance of the Study.
- Outline of the Dissertation.
- CHAPTER TWO: LITERATURE REVIEW
- Global Economic Trends Affecting the Luxury goods industry.
- Consumption of Superyachts.
- Competitiveness of the Superyacht Industry
- The Conclusion to the Chapter.........
- CHAPTER THREE: RESEARCH METHODOLOGY.
- Research Strategy..
- Research Method
- Research Approach..
- Data Collection
- Data Analysis...
- Challenges and Data Limitations .....
- CHAPTER FOUR: FINDINGS AND DISCUSSIONS..
- Content analysis of reports on the link between Economic Growth in International Markets and Ownership of Superyachts
- Effect of Increase in HNWIs on Sale of Superyachts.
- Future of the Superyacht Industry.
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This research aims to investigate the impact of changes in the number of high networth individuals (HNWIs) globally on the growth of the superyacht industry. The paper examines the increase in the number of wealthy households worldwide, the demand and supply of superyachts, and the performance of the superyacht industry globally. The study aims to determine the growth in ownership and use of superyachts globally, assess how the increase in the number of billionaires affects sales of yachts, and predict the future of the superyacht industry.
- The relationship between economic growth and the superyacht industry
- The impact of HNWIs on the demand and supply of superyachts
- The future of the superyacht industry in terms of ownership, construction, and environmental impacts
- The motivations for luxury consumption among HNWIs
- The importance of understanding the tastes and preferences of HNWIs for superyacht builders
Zusammenfassung der Kapitel (Chapter Summaries)
Chapter 1 introduces the study by examining the impact of economic challenges on the luxury segments of the global economy. It highlights the consumer groups for luxury products, particularly superyachts, and their unique characteristics. The chapter discusses the fluctuations in demand for superyachts in relation to economic trends and the growth of the superyacht industry in recent years.
Chapter 2 reviews existing literature on the global economic trends affecting the luxury goods industry, the consumption of superyachts, and the competitiveness of the superyacht industry. It explores the factors influencing the demand and supply of superyachts and the industry's competitive landscape.
Chapter 3 delves into the research methodology used in the study, outlining the research strategy, method, approach, data collection, analysis, and limitations. It provides details on the methods used to collect and analyze data to examine the relationship between HNWIs and the superyacht industry.
Chapter 4 presents the findings and discussions based on the data analysis. This chapter examines the link between economic growth and superyacht ownership, the effects of increasing HNWIs on superyacht sales, and the future outlook of the superyacht industry.
Schlüsselwörter (Keywords)
The main keywords and focus topics of this research are: superyacht industry, high net worth individuals (HNWIs), luxury goods, economic growth, demand and supply, market trends, consumer behavior, and industry performance. The paper examines the relationship between HNWIs and the superyacht industry, exploring the impact of wealth on the growth and development of this unique subsector.
- Quote paper
- Difrine Madara (Author), 2020, The Effects of changes on the number of high networth individuals on the Superyacht Industry, Munich, GRIN Verlag, https://www.grin.com/document/961658
