Financial storm hits leisure boat sales in Mideast - 0 views
-
meiechl f09 on 22 Oct 09This article is about how the financial crisis of 2008 has affected the market for luxury yachts in the Middle East. The article reports that sales of leisure boats are expected to plunge up to 75% as people are less willing to splurge on luxury goods. This shows that the YED for luxury yachts is relatively elastic, as the loss of income resulting from the crisis has caused a greater than proportional change in quantity demanded.