The world’s financial turmoil is already having an effect on the boating industry.
Once yachting was traditionally seen as a luxury sport for the ‘silvertail’ market but lately, as people became wealthier, more could afford a yacht or motor boat. These people were not mega-rich but had enough disposable income to take up the sport. Now, with savings and superannuation under pressure, they are much more cautious.
Does this mean that J.P. Morgan’s famous aphorism “If you have to ask the price you can’t afford it” will apply again?