Verventia agrees major partnership with AXA Insurance ahead of Thailand Yacht Show 2022

Verventia Co. has announced that the sixth edition of the government-initiated Thailand Yacht Show 2022 will be partnering with AXA Insurance ahead of the first instalment of the show at Pattaya’s Ocean Marina from 9th to 12th June 2022.

The second instalment of the much-anticipated Thailand Yacht Show will take place in Phuket at the end of 2022. There is no admission fee, and visitors can pre-register on the official website.

Andy Treadwell, CEO at Verventia, commented, “The domestic Thai boating market is poised for tremendous growth at all levels - from superyacht charter to day trips to sailing lessons; we have listened to our long-term repeat exhibitors and partners, all of whom are excited at this opportunity to address the Thailand market on its doorstep.”

Just 90 minutes from Bangkok’s Suvarnabhumi International Airport, and two hours’ drive from downtown Bangkok, Ocean Marina and the weekend destinations along the ‘eastern economic corridor’ are the go-to locations for the increasing number of wealthy individuals looking to explore the world of yachting.

Treadwell continued, “As a result of all the restrictions during the pandemic, for the past two years we have had to skip our longstanding yacht shows in Thailand and Singapore - both much-anticipated calendar fixtures for yachting enthusiasts and businesses. So, we are really looking forward to this year’s Thailand show coming back to life finally, and are honoured to have such a prestigious organization as AXA Thailand General Insurance become our main strategic partner.”

Claude Seigne, CEO at AXA Thailand General Insurance, said, “We are delighted to partner with Verventia as the official insurer of the Thailand Yacht Show 2022. Being part of this prestigious event is naturally a source of pride for all of us at AXA Thailand. The TYS is the perfect platform to promote our insurance products and to expand our business network among visitors and yachting industry professionals.”

Verventia has been instrumental in developing the yachting industry in Asia, particularly in Thailand, as Treadwell and his team believe that the country is a unique destination for the global superyacht owners to visit the whole year round - especially during the European winter months when it is too cold to stay in the Mediterranean.

As a result of the company’s perseverance during the past six years, the Minister of Finance has finally approved changes to regulations pertaining to superyacht chartering licenses. The changes now allow superyachts, nearly all of which are foreign-flagged, to charter legally in Thailand.

Instead of being required to pay Value Added Tax (VAT) on the yacht’s value, superyachts will now pay tax only on their charter earnings. Thailand is now welcoming superyacht tourists from countries such as the USA, Europe and the Middle East, who are looking for a new destination for their winter cruising holiday as an alternative to the Caribbean.

Verventia has also been working with the Saudi Arabian government for the past nine months, helping them with their own project to bring yacht tourism to their fast-developing Red Sea cruising grounds. The new Jeddah Yacht Club & Marina, a key part of the project, is a perfect stopover as well as a first-class destination.

Thailand historically welcomes less than 1% of the global superyacht fleet every year, but is now in a position to tackle this luxury travel segment, which has emerged post-pandemic as the travel industry’s fastest growing sector.

Treadwell continued, “Future global superyacht market growth is going to come from Asia - and especially from the north-east Asian countries neighbouring Pattaya and the Gulf of Thailand. An imaginative marketing campaign, with the right financial backing, can turn that 1% around, with the potential to attract over 200 superyachts by 2026.”

For more information, visit Thailand Yacht Show.

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