Fast-moving Asia is vying for a bigger share of the multi-billion-dollar luxury ship market serving the rich and famous.

Led by Taiwan and increasingly China, Asia has narrowed the gap with the West in recent years, though it still lags Europe in the race for a market where individual yachts can sell for tens of millions of dollars.

Asian yacht-builders offer prices that average about a third less for Taiwan and up to half as much for China compared to boats built in the West.