Mega Yachts are Hot

FOXNews.com - America's Got the Hots for Yachts - Fashion and Lifestyles

FOX News discusses how America's rich and elite are spending their leisure dollars on yachting. And not just any yacht will do. Mega yachts are in demand.

"The larger boats in particular, over 80 feet, have seen a backlog that's growing year by year," said Bill McGill, CEO of MarineMax of Clearwater, Fla, "It's grown faster than any other segment, and for us, it's really about boats over about 50 feet."

George Clooney, Brad Pitt, Matt Damon, Tiger Woods, Mariah Carey and Sean "Diddy" Colmes are just some of the celebrity names associated with mega yachts. Celebrities aren't the only ones hitting the high seas. So what has stirred interest in mega yachts?

• Baby Boomers are spending more and more discretionary dollars on recreation.
• The televised coverage on yachting races such as the America's Cup and the Louis Vuitton Cup spurs yachting enthusiasm.
• Under certain circumstances, a yacht can be treated as a second home for tax purposes, making mega yachts a good investment.

Visit Fraser Yachts Worldwide for more information on Mega Yachts for Sale.