Business · Trade · 5 hrs ago
Turkish small boat makers face financial strain as domestic demand weakens
Small and medium-sized companies making boats between 5 and 15 metres in Turkey are facing serious financial difficulties as domestic demand falls.
Murat Bekiroğlu, head of the Yacht and Boat Industry Association, said some firms were close to bankruptcy ahead of a boat show due to begin on October 17.
He said higher taxes on boat purchases and pressure on the currency were making boats more expensive and weakening local manufacturers’ competitiveness.
Turkey ranks second after Italy in production projects for superyachts at least 24 metres long, but that work is largely aimed at overseas markets.
Bekiroğlu said the success of large yacht makers should also be extended to smaller producers, which could build export capacity if they grow stronger at home.
He called for tax rules to be reviewed and for local manufacturers to receive support.
He also said Turkey has about 135,000 boats but only around 26,000 mooring places, and suggested expanding marina and dry-storage capacity.
Turkey’s small and medium-sized boat makers are struggling as domestic demand weakens, industry association head Murat Bekiroğlu said.
The producers make boats 5 to 15 metres long and face higher taxes, a pressured exchange rate and a shrinking home market.
Turkey ranks second globally in production of superyachts of 24 metres or more, with 141 projects in its production pipeline, the article said.
Bekiroğlu called for support for domestic makers, saying their growth could help expand Turkey’s export capacity.
He also said Turkey has about 135,000 boats but only around 26,000 mooring places.
- Who
- Small and medium-sized Turkish boat makers, and the YATED association.
- What
- Domestic producers are under financial strain as demand weakens and taxes and currency conditions weigh on them.
- When
- Reported on October 11, 2026; the Boat Show was due to begin on October 17.
- Where
- Turkey.
- Why
- The article cites a shrinking domestic market, increased tax burdens and a pressured exchange rate.
This story does not have two clearly opposing sides.
No direct quotes in the coverage so far.
Dünya published a report on the difficulties facing small and medium-sized Turkish boat makers.
YATED head Murat Bekiroğlu held a press conference ahead of the Boat Show and called for support for domestic producers.
The Boat Show was scheduled to begin.
- Superyacht ranking
- Turkey ranked second globally in production of yachts 24 metres or longer.
- Production pipeline
- 141 superyacht projects.
- Small-boat segment
- 5 to 15 metres long.
- Boats in Turkey
- About 135,000.
- Mooring capacity
- About 26,000 places.
Sources
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