The Effects of changes on the number of high networth individuals on the Superyacht Industry

Bachelor Thesis from the year 2020 in the subject Business economics - Offline Marketing and Online Marketing, grade: A, Kenyatta University, course: International marketing, language: English, abstract: 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.