Relatively low income per capita and less-than-favourable taxes are keeping the sector downBoat Lagoon Yachting facilities in Phuket. As regulations in Thailand pen in the local growth of the high-end yachting industry, Thai yacht distributor and service provider Boat Lagoon Yachting looks to neighbouring countries to fuel its expected 20% turnover growth. As the country’s per person income tops US$10,000 (313,866 baht), the number of yacht buyers will start to soar, said Vrit Yongsakul, founder and managing director of Boat Lagoon Yachting. Boat Lagoon Yachting derives 65% of its revenue (75% of which is boat sales, and 25% of which is after-sales services) from foreign markets. Boat Lagoon Yachting is the exclusive distributor of four major yacht brands (Princess, Jeanneau, Prestige, and Wider) across Thailand, Singapore, Malaysia, Indonesia, and the Maldives.

Source: Bangkok Post February 19, 2018 20:03 UTC