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Superyacht Market Downturn Amid Oligarch Exit
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Superyacht sales plummet amid rising wait times and costs, exacerbated by the exit of Russian oligarchs post-Ukraine invasion. Despite a 17% decline in new sales, completed orders surge by 31%, fueling demand in the superyacht industry. American-owned yachts grow in size, attracting a broader base of affluent clients.
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How might the absence of Russian oligarchs continue to affect the superyacht market in the long term?
In what ways could the growth in American-owned superyachts signal broader shifts in luxury spending patterns?
What strategies could superyacht manufacturers employ to counter the challenges posed by extended wait times and rising costs?
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