THE Monaco Yacht Show started today and there are plenty of representatives there from Isle of Man based companies involved in the industry.
"You have to go to Monaco every year if you are in this industry," Bransom Bean, director of Moore Stephens Crew Benefits said, prior to setting off for the show.
"Some estimates have said there are going to be 100 people from the Isle of Man there - the Island has become a centre of expertise for yachts."
It is the first year Moore Stephens Crew Benefits itself will be attending - though Moore Stephens has had a presence at the show for many years. "No-one offers the full spectrum of products that we have," Bransom said.
The target market for Moore Stephens Crew Benefits is the yacht crew, rather than the owners, their advisors or managers.
Yacht crew are different than commercial crew in that the latter have an almost cradle to grave support from their employers who usually have large fleets of ships. Yacht crew do not.
MSCB - which is sponsoring the Captain's Hideout venue at Monaco - source a broad spectrum of financial opportunities for them including international offshore bank accounts, international flexiplan for savings and retirement, global medical insurance and personal accident and income protection insurance.
The Captain's Hideout has been a feature of the Monaco Yacht Show for some years and is also a feature of the Fort Lauderdale International Boat Show.
It provides an area for captains and crew to network and relax away from the show and they are provided with free meals.
The show is hard work for the crew - the yachts are there either because they are chartering, for sale or on display by builders.
Bransom said: "The yacht business is global and this is the one time when everyone seems to gather so you try to touch base with as many people as you can, often starting with two breakfast meetings."
Yachting is big business and one that contributes to the Manx economy and employs a lot of people in the Island as part of the highly successful shipping industry.
"The Isle of Man has succeeded because they understand what the yacht people need and deliver it," Bransom said.
There are different boat shows around the globe and the recent Southampton Boat Show is a far cry from Monaco - at the former you can buy foul weather gear, boat shoes and charts.
At Monaco the boat show has fabrics, exotic woods and special bathroom fittings for super yachts.
And for those thinking the luxurious nature of Monaco must be a bit of fun for those working there, Bransom has a different view point.
"If I want to go on a jolly I will go to the Southampton Boat Show - this is work."
Keep checking isleofman.com for more on the Monaco Yacht Show
