April - 2022
In Dubai and looking for water sports activities? Then, ladies and gentlemen, you are in for a sustainable ride. Managing environmental impacts isn’t just on land. Water is also at the core of sustainable development and is critical for a healthy ecosystem.
Dubai, home to luxury, sits on the shores of the aqua blue Persian Gulf waters. For global tourists, the Emirate is renowned for its beach vacations and pristine shores.
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But it’s just one of the many hats Dubai wears. Dubai is as popular for its beaches as it is for its skyrise buildings. And most times, you will find tourists and residents sitting by the public beaches in JBR, La Mer and The Creek to enjoy the water activities by the beach.
The endless miles of coastline in Dubai and the beautiful turquoise waters are inviting enough for water and sports enthusiasts to take a leap in (literally). No wonder, the Middle East leisure boat market is expected to grow to $2,947.1 million by 2027 from $1,840 million in 2017, growing at a CAGR of 4.9%, according to a report (link).
A combination of factors, including the rising popularity of sailing, the increasing availability of waterfront property and the fast-growing population, have created a market where demand currently outstrips supply by three to one, creating major opportunities for boat suppliers and builders. It’s no wonder.
As you may be aware, the growth of tourism also endangers the natural landscape of an area through pollution and land erosion for building hotels. This can put enormous stress on both land and water and progressively damage the natural resources on which tourism depends. But by implementing ecotourism, travelers and residents can both enjoy the benefits without destroying the ecosystem.
Ecotourism in the UAE
The UAE and particularly Dubai understood this appreciation for the environment way ahead of many nations and today, Dubai is set to play a leading role in the UAE’s ambitious new ‘National Ecotourism Project’ strategy. The UAE Ministry of Climate Change and Environment’s (MoCCAE) newly launched plan to position the Emirates as a leading global ecotourism destination ranks among the most ambitious of its kind initiated anywhere in the world (link).
This not only includes protecting the marine life, but also the use of water transportation. Electric vehicles are perceived as the key technology in the automotive industry, contributing to sustainable developments with lower greenhouse gas emissions, less air pollution, and new job opportunities with positive social impact. Across the globe and in the UAE, governments continue to focus on the adoption of eco-friendly boats and ships to reduce emissions anticipated to propel demand in the market. The MENA region boasts the world’s second-highest fleet-to-billionaire ratio, while Dubai ranks among the top-10 nautical capitals internationally with 15 marinas providing more than 3,000 berths (link).
Our Investor Insights this month focuses on a Europe-based company that designs and manufactures innovative hydrofoil-equipped, 100% electric-powered watercraft. The pioneering company has created a vessel that is eco-friendly and fast, leaving no footprint of pollution on the waters.
Made for both recreation and transportation, the two-seater is customizable to suit your riding style. Today, it’s the most energy-efficient vessel in the market due to its unique hydrofoil technology, patented steering system, ergonomic design, and recyclable materials. And what’s exciting is that the craft runs on standard Lithium-Ion battery packs that are available everywhere.
Our dependence on fossil fuels results in increased emissions that are associated with conventional water transportation. Bolstered by new technology, electric watercraft are now faster, have smaller batteries with longer ranges, and have zero emissions. Making it easier is the hydrofoil rental and leasing options that are available. No noise, no pollution, no stress on the Earth – this is what the future holds.
If you are looking for the next step in innovation, excitement, and sustainability, contact us to learn more about the firm and the investment opportunity.