Malta has been hailed as the new superyacht capital of Europe.
Nearly one in every 13 superyachts around the world are now registered in Malta.
More and more superyachts, owned by some of the world’s richest people, are also based in and around the Grand Harbour, Vittoriosa Waterfront and Pieta marina.
Dozens of VIPs including Rihanna, Beyoncé, Barack Obama and Bill Gates have been photographed on superyachts flying the Maltese flag recently.
Malta’s transport minister Ian Borg revealed around 800 floating palaces are now registered under the Maltese flag – that’s an incredible rise of 98 per cent over the past five years.
He said that he was committed to ‘consolidating this growth through our reputation, confidence and quality’.
Malta Ship And Yacht Registry has also launched a new slogan to entice more would-be customers.
It reads ‘Malta: the flag of confidence for superyachts’.
Original article found on 897 Bay News