35th International Istanbul Boat Show generates $50 million revenue

Around 160 boats, worth $50 million in total, were ordered or sold during the 35th Istanbul International Boat Show organized in Istanbul between Oct. 6 and Oct. 11.

The show, in which yachts, motor yachts and luxury mega boats with a price ticket totaling $250 million were on display, was visited by 15,000 people. Additionally, new trends for sailing enthusiasts like small motor yachts and sailboats with a price tag similar to that of an average passenger car were also on display at the show. Motor yachts and sailing boats within the price range of 64,000 to 150,000 euros received the most attention from visitors.

The size of Turkey's yacht and boat market is around 450 million euros annually, while the industry, including sub-industries, makes around $5 billion to $5.5 billion annually.

For every 2,000 people in Turkey, one person owns a boat, which has a coastal strip of 8,333 kilometers. The country has a capacity of 17,500 yachts in 62 marinas.

In Italy, which features a 7,800 kilometer long coastal strip, one in 68 people own a boat, whereas the country's marina capacity stands at 178,000.

Each year 1 million yachts cruise regularly in the Mediterranean Sea.

Despite certain flaws in the industry, such as the insufficient capacity of the marinas and mooring areas, and high rents, Turkey's yacht and boat industry continues to grow by 20 percent every year. Turkey is the world's third biggest country for mega yacht production.