A significant amount of wealth is leaving the UK, but what does this mean for the superyacht services industry in the country?
Yachting is a global industry driven by international wealth, where the fiscal residency, domicile, or nationality of those looking to purchase, operate, or enjoy yachts is often irrelevant.
“The UK, particularly London and the South Coast, serves as a hub for superyacht professional services, driven by the needs of a global community,” says Jo Assael, British Superyacht Ambassador for Technical & Regulatory Affairs. “I don't believe that the domestic market is the driving force behind the UK's superyacht sector, so the departure of these millionaires will not impact the country's yachting professional services industry. The UK has established itself as a centre of excellence, serving the global community.”
Wherever millionaires and their wealth may move, they will continue to seek out the exceptional yachting services that the UK offers. This is why British Superyacht exists to support the industry.
British Superyacht continues to strive in bringing together the globally renowned quality and excellence of the yachting services available around the British Isles and promote them accordingly in the UK and around the world. Look out for future British Superyacht events focussing on this important subject matter.
🔽 Check out the @Henley & Partners Private Wealth Migration Report 2024