It is well known in the overall aviation business that the manufacturing of small aircraft, corporate Jets, and also airliners is slowly shifting to China. The same thing is happening in the recreational marine boating business, plus they are beginning to build luxury cruising yachts in China. Previously, they were making most of the components, now they’re making entire luxury yachts. But before you complain, recognize that China is a huge market for yachts, and the Chinese are simply naturally boat people (remember the Treasure Fleet), especially the ones that live close to the water, or in the major cities and also have accumulated many wealth.
There was a fascinating article recently published in Bloomberg Business Week (May 9 – May15, 2011) titled “China’s Next Port of Call: Luxury Yachts” which stated that the is headed to China, and the luxury yacht makers of Europe, Australia, and the united states will slowly see the disappearance of companies making high-end yachts, as there is no way they’ll be able to compete. Several reasons things are floating to China as per the article;
1. – Lower Costs and rising wealth fuel growth at mainland boat builders.
2. – They use boats no differently than they would a karaoke lounge.
Okay so not only can the these boats be made less expensively with low-cost labor, but the Chinese luxury cruising yacht business is booming with many wealthy Chinese seeing this as the ultimate for his or her wealthy status. The article also stated that the Chinese lack the intensive knowledge to build these yachts, but that they are catching on quickly with the help of foreign partners. In analyzing the situation, I see the Chinese as capturing this industry as well.
No, that doesn’t bode too well for all those in Florida that are yacht builders, and employ a large number of people. Each and every time we talk about manufacturing in america, we discuss how jobs have increased, and we have been the major manufacturer to the planet, but in reality China is passing us, plus they are creating jobs quicker than we are, and also if their economy sputters, they will end up over time with a good chunk of our manufacturing industrial base.
Along with innendichtung because the making of airliners, corporate Jets, luxury yachts, along with other things that Americans currently appear to excel at. Needless to say, there are many of yacht manufacturers in the Mediterranean, plus they too may lose those jobs to China. Would you buy a luxurious cruising yacht from China? Even if you say no, what if I said you can buy it for a third of the cost, as well as half? You see, even you’d to stop and think about that. Please consider all this.