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الاقتصادية
Revised Procedures for Foreign Yachts at Red Sea Marina
The global yacht market exceeded a value of $10.3 billion by the end of 2024, with expectations to rise to $15.5 billion by 2033. The yacht rental market was worth $8.35 billion in 2024, with projected growth to $11.34 billion by 2030, as demand for luxurious and organized sea experiences continues to increase. In Saudi Arabia, the authority approved the issuance of nine yacht rental licenses and fourteen marine harbors, with expansion into major coastal areas, especially Mecca and Medina, aimed at improving infrastructure and facilitating the entry of foreign yachts. The luxury yacht market is also experiencing significant growth, with more than 6,174 super-long yachts in operation by August 2025, and the construction of 588 yachts ongoing—highlighting the importance of maintenance services and facilities for yacht owners. Additionally, the authority is working on developing national talent by training over a thousand trainees to enhance the quality of maritime and tourism services, differentiating between domestic and visiting yachts based on registration type and purpose.
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