With "characteristic towns" popping up all over China, the local government of South China's Hainan Province recently announced it would build eight yacht towns by the end of 2025.
Asia’s cruise market is sailing into a golden era, powered by significant growth in China. By 2035, China’s cruise industry is projected to generate 460 billion yuan in revenue.
Revenue increased to USD 2.3 billion from USD 2.2 billion the year before, and net income jumped from USD 420 million in 2017 to USD 466 million this year.
Whilst others are cutting their China deployment, Costa is doing the opposite with plans to introduce two tailor-made ships in 2019 and 2020 to China, according to the president of Costa Group Asia.
The changes will also see a ship sail from Amsterdam for the first time, send another to Australia and New Zealand, and a third to Singapore and Hong Kong.
Chinese tourists are expected to make 5.7 million cruise trips this year, up 15% from last year, on the back of popular Asian and Oceanian sea travel options.
With the current round of financing, HiTime will increase its market share in yacht operations at pristine areas in China, and aims to become China's largest yacht service provider with updated products.
Boat rental startup Click&Boat to expand globally as well as through acquisition.