Thailand could be the next home for a luxury yacht boom after “wealthy residents of Thailand caught the sailing bug during the COVID-19 pandemic,” according to a new Nikkei Asia report.
The enthusiasm wound up boosting marinas, yacht brokers, and related industries. Yacht traffic at Phuket, Koh Samui, and Pattaya surged 63% from 2022 to 2024, with over 2,000 trips through Phuket alone, according to the Ministry of Transport, the report says.
Recognizing the economic potential, Prime Minister Paetongtarn Shinawatra attended the Phuket boat show on Jan. 12. The global luxury yacht market, valued at $8.75 billion in 2024, is projected to grow to $17.3 billion by 2032, with the Asia-Pacific leading growth due to rising incomes, maritime tourism, and government support.
Paetongtarn said at the show: “The government is ready to fully support luxury marine tourism to continue to grow more.”
Lies Sol, a Phuket-based charter manager for yacht brokerage Northrop & Johnson told Nikkei: “The main aim is to get Thai people more familiar with yachting and let them grow into luxury yachts. Before you buy, why don’t you charter and learn what is essential for you?”