Billionaires stop buying expensive yachts because of fears of a global recession

In the market of super-expensive yachts and pleasure boats there is a real collapse, which may indirectly indicate to investors on the approaching economic crisis, wrote on Friday economic blog ZeroHedge. As noted it columnist Tyler Durden, the industry tends to experience a downturn before or during turning points in the economy.

Trips on boats, especially yachts, is a very expensive pastime, so it comes down to disposable income of the middle class and super-rich consumers. Therefore, when in the domestic and global economy appear pessimistic and uncertainty, the cost of boats and yachts, as a rule, reduced.

national Maritime manufacturers Association (NNMA) has expressed concern about a possible reduction in consumer demand next year. While the growth in the segments of pleasure and sporting boats, but sales of freshwater fishing boats has declined markedly.

In recent quarters, the decline in production has resonated on the sphere of consumption. Experts expect that after ten months of declining employment figures in the first half of 2020, consumer confidence will decrease, and this in turn will lead to a drop in sales of small private yachts and superyacht, that would be another warning sign of upcoming recession.

Dealers superyacht is already talking about a slowdown in sales. As the portal notes, rich people are obviously scared of the real threat to global trade decline next year. According to Bloomberg, in September dealers superyacht reported only 102 sold for 9 months of the courts, and, in all likelihood, this year's results will be in General much weaker than the last, when it was sold 199 yacht of this size.

As noted in an interview with the Agency Tom Conboy, selling Dutch superyacht Builder Heesen Yachts, rich clients buy yachts when they are confident in the prospects of the world economy, and if the world is something went wrong, trades will not be.