PHILIPPINE SUPERYACHT ASSOCIATION

MARCH 05, 2011 PRESS RELEASE

Philippine Superyacht Association announces it’s Launch in Subic

SUBIC BAY: The Philippine Superyacht Association, a newly formed non-profit organization, is opening up the Superyacht industry in the Philippines. The Association has been formed to cater for the needs of the increasing numbers of superyachts visiting SE Asia.

Historically, the majority of the world’s privately owned superyachts have gravitated towards the Mediterranean Sea and the Islands of the Carribean. A recent trend, however, has been for yachts to venture further afield.

Superyacht owners are now discovering many beautiful parts of the world, previously unexplored by maritime tourism.

Strong economic growth in Asia has also produced many wealthy individuals craving ownership of such luxury items as sailing and motor yachts.

The last ten years has seen the creation of several superyacht associations and yacht construction, refit & support companies in the region. Singapore, China, Hongkong, Thailand, Indonesia and Australia,. The Philippine Superyacht Association is working very closely with these organisations to attract the Superyacht sector to Asia - The Third Destination.

The objectives of the association are:

To form a single organization to represent the joint interests of the Philippine superyacht construction, refit, repair and ancillary services industry.

To represent the Philippine superyacht industry at, and be affiliated with, national organizations that support and promote the Philippine maritime industry.

To work with relevant Nation, Provincial and Local Government regulatory and other agencies to address any concerns affecting the operation, growth and development of the industry in the Philippines.

To promote the interests of the superyacht Industry within the Philippines and overseas;

To encourage Superyachts to visit Philippine ports and utilize member services & facilities

To promote the Philippines as a tourism destination for superyachts