Paper Title
Competitive Advantages and Challenges of Taiwan Yachting Industry

Abstract
The global yachting industry is currently valued at $40 billion due to a rapid appreciation of the demand for luxury yachts. It contributes to the industrial trend where 99% of the yacht revenues in Taiwan originate from international sales. In 20 century Taiwan gained renown and received the designation of 'Asian Yachting Kingdom' due to its vast economic output. However, the yachting industry declined due to the prevalence of tough economic conditions. One issue is the appreciation of the New Taiwan dollar and another issue is the occurrence of two global financial crises. Also, the China-US trade war impacted Taiwan yachting industry by increasing the difficulty and cost of obtaining production materials. The COVID-19 pandemic affected the supply chain, reducing access to production parts for yacht-making. Currently, the Russia-Ukraine conflict is exerting feasibility difficulties on the yachting industry through price hikes for raw materials. Despite these challenges, the yachting industry has continued to thrive, showcasing its resilience and future economic potential. A reshuffling strategy by the top yachting companies has resulted in the repositioning of the industry and a return to high performance. It is the purpose of the study to determine the future viability of the Taiwan yachting industry by analyzing competitive challenges and advantages. Anticipating the future of the yachting sector is vital for crafting adaptation and mitigation strategies. The research question for the investigation is 'What factors influence the viability of the yachting industry. The methodological approach involves gathering and analyzing information from various publications and documents. Utilizing these resources provides access to a wide repository of information that can provide in-depth insight into the yachting industry. The results demonstrate that Taiwan's yachting industry is a miracle sector. Yachting companies continue to thrive against challenging competitive forces. For instance, the Taiwan Government does not fully support the industry. Further, the yachting industry does not derive economic associations with the local population; instead, it relies on international demand to drive sales. The industry's persistence amid these challenges shows that it needs to be prioritized. Keywords - Competitive Forces, Yachting Industry, Industry Cluster, Supply Chain