A total of 36 boats worth RMB130 million (US$19.5 million) were sold at the recent Xiamen Boat Show, 35% higher than in 2009. Cai Zhibin, head of the event organizer Xiamen Road Bridge Yacht Development, said the sales were so amazing they took "everyone in the industry by surprise."
Chinese consumers are snapping up boats at the high and low end.
"Luxury boats are mainly sold to entrepreneurs who use it for business entertainment," Cai said.
Experts say the prospect of having a "floating palace" has more than offset the multimillion-dollar price tags, the 40% import tax and running costs equivalent to several cars.
Pierre Gervois, CEO of China Elite Focus, a high-end public relations agency targeting super-rich Chinese consumers, was quoted by PR Log as saying, "It’s amazing to see how boating is now part of the new luxury lifestyle of the second generation of wealthy Chinese. This trend is growing very fast."
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