Thailand is stepping up development of “community marinas” in a bid to attract ultra-wealthy yacht owners and position the country as a regional maritime tourism hub. The move comes as the global luxury yacht market is forecast to grow from USD 10.12 billion in 2025 to USD 10.76 billion in 2026, reaching USD 14.61 billion by 2031, according to ResearchAndMarkets.com. Officials believe expanding marina infrastructure could deliver significant economic gains as high-spending yacht tourists increase their presence in the region.
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The Transport Policy and Planning Office (TPPO) recently met with a technical steering committee overseeing a consultancy project to draft a master plan for the southern Andaman coast. The plan aims to develop Ranong, Phang Nga, Phuket, Krabi, Trang and Satun as a maritime tourism and transport hub, including new community marinas. The meeting reviewed a draft Initial Environmental Examination (IEE) report for a proposed cruise and sports marina project, with consultants instructed to revise it in line with sustainable development practices.
The initiative stems from a 2025 Cabinet resolution intended to establish Thailand as a maritime tourism hub. ResearchAndMarkets.com reports that growth is being driven by a rising number of Ultra High Net-Worth Individuals investing in “experiential assets”. By 2030, yacht tourism is projected to contribute 26% of the maritime economy, with yachting tourists spending around USD 287 per day, nearly double that of average visitors.
Market analysis indicates motor yachts will account for 66.68% of the market in 2026, while hybrid and electric yachts are forecast to grow fastest, with a 10.09% CAGR ( Compound annual growth rate) through 2031. Yachts measuring 20 to 40 metres are expected to capture 43.62% of market share in 2026, while vessels over 80 metres are predicted to see the fastest growth at 11.74% CAGR. Europe is projected to hold a 42.62% market share by 2026, while Asia-Pacific is the fastest-growing region, supported by expanding marinas and increased yacht registrations in China.
Premium marina fees, higher interest rates and insurance premiums are also affecting owners, prompting greater interest in shared ownership and chartering models. Manufacturers are responding to tightening International Maritime Organisation greenhouse gas regulations by investing in hybrid and electric systems, including the launch of the fully electric Riva El-Iseo by Ferretti Group.
The Nation reported that Thailand’s maritime ambitions face regional competition from countries including India and Vietnam, which are also modernising their coastlines to attract yacht tourism. Officials acknowledge that internal execution challenges remain as the country seeks to translate its maritime resources into sustained economic growth. Further revisions to environmental assessments and continued infrastructure investment are expected as the plan progresses.
Pictures courtesy of The Nation
Key Takeaways
• Thailand is advancing community marina projects across six Andaman provinces to attract high-spending yacht tourism.
• The global luxury yacht market is forecast to reach USD 14.61 billion by 2031, with strong growth in hybrid and electric vessels.
• Yacht tourists spend around USD 287 per day, nearly double the average tourist, but rising costs are pressuring the sector.
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Adapted by ASEAN Now Nation 14 Feb 2026
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