Wealthy Middle East travelers favor privacy, new experiences, and quality time with family above the offerings of traditional five-star resorts, Gulf Craft’s CEO has revealed.
Erwin Bamps said that his dealings with the jet set had taught him that the perceived glitz and glamor of luxury hotels was waning among ultra-high net worth individuals, adding he had observed a shift towards more personalized vacations, such as chartering superyachts to explore the region’s coastlines.
“C-suite executives accustomed to putting in 14-hour days really value their free time,” he said.
“Chartering a crewed superyacht gives them the flexibility to personalize their itineraries and explore, freeing them to make the most of every moment of their vacation.”
Research by Credit Suisse suggests that, a decade on from the 2008 global financial crisis, members of this demographic place more emphasis on mindfulness and wellbeing, and are eschewing ostentatious displays of affluence. There is also a greater focus on family life, with a rise in multi-generational cruising.
Popular destinations among this demographic include the Red Sea Riviera, encompassing Egypt’s Sharm el-Sheikh and the Jordanian town of Aqaba, a short drive from ancient Petra and home to an 18-hole Championship golf course designed by Greg Norman. Other elite destinations favored are Bodrum, in southeastern Turkey; Dubai, Abu Dhabi, and Tunisia’s Marina Bizerte, which offers upscale boutique hotels, 24-hour security, and berths for boats of up to 150 meters in length.
“Whether they want to dive in coral reefs or hold full moon yoga sessions on deck, chartering a yacht offers the ultimate in versatility,” Bamps added.
“Today’s superyachts offer unprecedented amenities and style – they are the palaces of the ocean. Yet, there are certain things in life that money cannot buy, and the ultra-rich are embracing the marine lifestyle to replenish both body and soul.”
