Concerning trend in new megayacht hotspot sparks outrage: 'Horrible news'

In the quiet waters of Vietnam's Ha Long Bay, something unsettling is happening.

A new class of ultra-rich elites is reshaping the coastline, not with fishing boats or community investment, but with multimillion-dollar superyachts and plans for luxury marinas.

What was once a symbol of national beauty and biodiversity is fast becoming a playground for fossil-fueled excess.

A Bloomberg article has spotlighted the rise of luxury yacht ownership in Vietnam, fueled by the country's rapidly growing millionaire class.

The article details how a former coal magnate is partnering with yacht makers to build a high-end marina in Ha Long Bay, a move that underscores the country's shift toward high-end consumption in some of its most iconic natural spaces.

The article states that "people are spending up to $15 million on a yacht."

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While the rise in luxury yacht ownership may benefit a few ultra-rich buyers, the environmental cost is steep. Superyachts burn massive amounts of fuel, pollute sensitive marine ecosystems, and contribute to climate change.

Ha Long Bay, a UNESCO World Heritage Site, now faces the threat of becoming a status symbol for the wealthy instead of a shared national treasure. This shift highlights a deeper crisis: luxury consumption is accelerating at the exact moment the planet can least afford it.

Plans to build a private marina in Ha Long Bay, a protected natural site, threaten biodiversity and risk turning public waters into playgrounds for the wealthy. Meanwhile, everyday Vietnamese consumers face growing inequality, as access to natural spaces becomes increasingly tied to wealth.

Superyachts are among the most carbon-intensive assets on the planet, often burning hundreds of gallons of diesel per hour. Their emissions can reach thousands of tons of CO2 each year, far more than most people will produce in a lifetime.