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The future of yachting: Yacht market trends in a post pandemic world
Home > LUXURY/UHNW Trends > The future of yachting: Yacht market trends in a post pandemic world
Posted by Joanna Lewis , 30 Jun 2022
The yachting industry has enjoyed record growth over the past couple of years. While the pandemic restricted travel initially, it created a desire for more exclusive and private holidays amongst the world’s richest. The lockdown also enhanced individuals’ willingness to seize the moment and seek freedom on the sea aboard a luxury yacht with close family and friends.
Not only has this surge in yacht sales and charters been driven by a desire to enjoy more exclusive and private experiences, but it has also been driven by an uptick in global wealth. There were 670 new billionaires in 2020 and more than 295,400 Ultra-High-Net-Worth-Individuals, according to the 2021 Wealth X Report. Additionally, historically low-interest rates have provided cheap capital, further fuelling demand for luxury goods, although this driver is set to change with rising interest rates. With this increased spending power, many of the world’s most coveted luxury brands have witnessed a boost in sales, and the yachting industry, too, has reaped the rewards.
Relevance Yacht’s partnership with YATCO , the Official MLS and Ultimate SaaS Platform of Yachting, provides us with the latest yacht market trends and post pandemc industry insights. Here we explore some of the latest yacht industry trends identified by YATCO.
Yacht market trends : sales
Yacht sales continue to be robust. 2021 saw an astonishing 72 vessels with price increases, breaking historical records and this trend is continuing in 2022.
The most recent YATCO data – from May 2022 – shows that a total of 100 yachts were sold in this month alone, with a combined asking price of more than US$179 million. There were also 350 new brokerage yachts for sale, and 49 listings are currently under contract – a 23% increase compared to April 2022.
For comparison, looking at the same month in 2021, there were 39 yachts of 79ft+ sold with a combined asking price of more than $400 million, 102 new listings and 68 listings under contract.
“All the Relevance yacht brokerage clients have seen incredible growth in yacht sales, yacht charters, and new build contracts since 2020,” Rumble Romagnoli, President at Relevance said. “Is the world getting richer? Are people wanting to enjoy their money more? Is the marketing of high value goods more effective through digital channels? I think we have a situation where all these factors are playing their part.”
Yacht market trends : charter
The yacht charter market continues to experience growth. An increasing number of charter-only firms are joining YATCO to sell yachts on behalf of their clients, and prices are increasing due to demand outstripping supply.
According to BusinessWire, the global yacht charter market is estimated to be worth around US$16.1 billion this year and is expected to reach around $21.65 billion by 2027.
Post pandemic trends
The latest data from YATCO shows that expedition yachts are the most sought-after by yacht owners and charterers. This reflects an increasing trend amongst yachting enthusiasts to travel beyond the world’s most popular blue water havens and explore more remote areas.
There is also a growing influx of new yacht owners and charter clients from the tech, crypto, Non-Fungible-Tokens, and blockchain community. These clients are much younger than the traditional yacht industry audience. They are typically in their mid-20s and early 30s, are new to the world of yachting and seek trusted professionals who can provide expert advice on the entire eco-cycle of yachting, from chartering to owning a luxury vessel.
Yacht brokerages are responding to this new audience by embracing payment in crypto. For example, global yacht brokerage YACHTZOO has recently partnered with BitPay to offer payment for select yachts for sale and charter in cryptocurrency.
This younger audience is also the key driver of the yachting industry becoming greener and more eco-friendly. As such, sustainable yachts, including ones that boast state-of-the-art hybrid propulsion systems, are increasingly popular. This trend for sustainability is reflected across the entire yachting industry, including builders, brokers, and even marinas, all implementing eco-friendly initiatives.
Yacht market trends : a new digital era
Driven by Covid lockdowns, the traditional way of doing business has changed, with the past few years seeing a global rise in the number of companies investing in new websites. The yachting industry has embraced this new digital era, finding new ways of selling and chartering yachts virtually, demonstrating the importance of a robust online presence and digital marketing strategies.
An increasing number of sales are being made online via social media platforms, with inquiries for second-hand and new build yachts on popular platforms such as Instagram, Facebook, and LinkedIn.
YATCO support yachting professionals digitally by providing top software solutions that deliver results.
Relevance Yacht works with some of the leading yacht industry brands helping to support them with effective digital marketing strategies. If you want to learn about our full portfolio of marketing services, then contact the team at Relevance Yacht.
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Top 25 Yacht Magazines in 2024
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Here are 25 Best Yacht Magazines you should follow in 2024
1. Yachting World
2. Yachting Magazine
3. Yachting Monthly
4. Northwest Yachting
5. Yachts Croatia
6. Yachting Life
7. Megayacht News
8. Motorboat Expert
9. Pacific Yachting
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13. The One Yacht & Design
15. Superyachts
16. Asia Pacific Boating
17. Yachting and Boating World
18. Yachts and Yachting
19. BOAT International
20. Sea Yachting
21. Power & Motoryacht
- Yacht Magazine Editors and Contributors
Author Name | Designation | Media Outlet | Twitter Handle | Twitter Follower | |
---|---|---|---|---|---|
Helen Fretter | Editor | yachtingworld.com | @helenfretter | 1.3K | |
Toby Hodges | Test Editor | yachtingworld.com | @tobyhodgesyw | 1.6K | |
Robert Owen | Art Editor | yachtingworld.com | |||
Theo Stocker | Editor | yachtingmonthly.com | |||
Katy Stickland | Deputy Editor | yachtingmonthly.com | @crusoesgirl | 601 | |
Neil Singleton | Art Editor | yachtingmonthly.com | |||
Sarah Williams | Sub Editor | yachtingmonthly.com | |||
Michelle DeRouen | Associate Publisher | nwyachting.com | |||
Kate Calamusa | Editor | nwyachting.com | |||
Diane Byrne | Owner | megayachtnews.com | |||
Sam Burkhart | Editor | pacificyachting.com | |||
Hugo Andreae | Editor | mby.com | |||
Alex Smith | Senior Staff Writer | mby.com | |||
Chris Jefferies | Digital Editor | mby.com | @chrisjeff | 461 | |
Neil Singleton | Art Editor | mby.com | @1neilsingleton | 60 | |
Sam Jefferson | Editorial | yachtsandyachting.co.uk | |||
Toby Heppell | Contributor | yachtingmonthly.com | |||
Chris Jefferies | Contributor | yachtingworld.com | |||
Rob Peake | Contributor | yachtsandyachting.co.uk | |||
Tom Davis | Contributor | pacificyachting.com | |||
Patrick Kinsella | Contributor | yachtingworld.com | |||
Marie Cullen | Contributor | megayachtnews.com | |||
Ken Kremsler | Contributor | megayachtnews.com | |||
Ed Thomas | Contributor | megayachtnews.com | |||
Désirée Sormani | Contributor | megayachtnews.com | |||
Luca D'ambrosio | Contributor | yachtingnews.com | |||
Sibilla Gambino | Contributor | yachtingnews.com | |||
Leigh Rose | Contributor | yachtingnews.com | |||
Marco Ballerio | Contributor | yachtingnews.com | |||
Emiliano Gabrielli | Contributor | yachtingnews.com | |||
Nico Caponetto | Contributor | yachtingnews.com | |||
Giorgio Bruno | Contributor | yachtingnews.com | |||
Alex Giuzio | Contributor | yachtingnews.com | |||
Gennaro Coretti | Contributor | yachtingnews.com | |||
Amp; Stephane | Contributor | yachtingnews.com | |||
Alessio Molla | Contributor | yachtingnews.com | |||
Silvia Pretto | Contributor | yachtingnews.com | |||
Mattia D'ambrosio | Contributor | yachtingnews.com | |||
Martyn Clark | Contributor | pacificyachting.com | |||
Dinarella | Contributor | yachtingnews.com | |||
Nwy Staff | Contributor | nwyachting.com | |||
Lori Eastes | Contributor | nwyachting.com | |||
Mark Yuasa | Contributor | nwyachting.com | |||
Randy Woods | Contributor | nwyachting.com | |||
Dan Houston | Contributor | yachtingworld.com | |||
Ben Meakins | Contributor | yachtingworld.com | |||
Sam Fortescue | Contributor | yachtingmonthly.com | |||
Fox Morgan | Contributor | yachtingmonthly.com | |||
Ken Endean | Contributor | yachtingmonthly.com | |||
Andy Pag | Contributor | yachtingmonthly.com |
- Yachting World
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- Superyacht Digest
- Yachting News
- The One Yacht & Design
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Category | Average per Issue |
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Paid Subscriptions | 10179 |
Paid Multiple Copies | 0 |
Membership Copies | 0 |
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Name | Owner | Period | Date for chart | ABC Total for chart | ABC | Certificate |
---|---|---|---|---|---|---|
Yachting Monthly | Future Publishing Ltd | January to December 2023 | ||||
Yachting Monthly | Future Publishing Ltd | January to December 2022 | ||||
Yachting Monthly | Future Publishing Ltd | January to December 2021 | ||||
Yachting Monthly | Future Publishing Ltd | January to December 2020 | ||||
Yachting Monthly | Future Publishing Ltd | 23 April 2020 to 10 September 2020 | ||||
Yachting Monthly | TI Media Limited | January to December 2019 | ||||
Yachting Monthly | TI Media Limited | January to December 2018 | ||||
Yachting Monthly | Time Inc. (UK) Ltd | January to December 2017 | ||||
Yachting Monthly | Time Inc. (UK) Ltd | January to December 2016 | ||||
Yachting Monthly | Time Inc. (UK) Ltd | January to December 2015 | ||||
Yachting Monthly | Time Inc. (UK) Ltd | January to December 2014 | ||||
Yachting Monthly | IPC Media Ltd | January to December 2013 | ||||
Yachting Monthly | IPC Media Ltd | January to December 2012 | ||||
Yachting Monthly | IPC Media Ltd | January to December 2011 | ||||
Yachting Monthly | IPC Media Ltd | January to December 2010 | ||||
Yachting Monthly | IPC Media Ltd | January to December 2009 | ||||
Yachting Monthly | IPC Media Ltd | January to December 2008 | ||||
Yachting Monthly | IPC Media Ltd | January to December 2007 | ||||
Yachting Monthly | IPC Media Ltd | January to December 2006 | ||||
Yachting Monthly | IPC Media Ltd | January to December 2005 | ||||
Yachting Monthly | IPC Media Ltd | January to December 2004 | ||||
Yachting Monthly | IPC Media Ltd | January to December 2003 | ||||
Yachting Monthly | IPC Media Ltd | January to December 2002 | ||||
Yachting Monthly | IPC Media Ltd | January to December 2001 | ||||
Yachting Monthly | IPC Media Ltd | January to December 2000 |
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Sailing the Orkneys: 'Bryan saw a tall black fin breaking the water, followed by another - it was a pair of orcas'. Sitting on my living-room floor surrounded by tide tables, pilot books, and almanacs, one part of my upcoming voyage around Britain began to excite me more than the rest. I….
Yachting Monthly Audience 46% Intend to purchase a new boat in the next 5 years. 4 Editors Statement Yachting Monthly is Britain's top cruising magazine and has been inspiring sailors since it was first published in 1906. It is written by sailors, for sailors, and is driven by a shared love of being
Yachting Monthly is at the heart of the British yachting market and is for people who actively sail their boats - whether cruising across the channel, around the coast or further afield in blue waters.. It provides an entertaining mix of vital information for cruising yachtsmen with all levels of experience, which maximises their enjoyment, increases their skills and gives them the ...
Yachting Monthly. Yachting Monthly is at the heart of the British yachting market and is for people who actively sail their boats - whether cruising across the channel, around the coast or further afield in blue waters. It provides an entertaining mix of vital information for cruising yachtsmen with all levels of experience, which maximises ...
7 - GenZ influence. The Forbes 400 list last year identified 10 billionaires under 40. Over the next two decades, the average age of superyacht owners is predicted to be between 35 and 45. More younger clients will enter the 2023 yacht industry, whether for charter or purchase, and the influence of Gen Z will change the face of yachting.
Yachting Monthly is Britain's top cruising magazine and has been inspiring sailors since it was first published in 1906. It is written by sailors, for sailors, and is driven by a shared love ... Our audience covers a wide range of sailors, from young people dreaming of buying their first yacht to lifelong cruising sailors, to people seeking ...
History. At its launch in 1906, from the offices of The Field, The Manchester Guardian reviewed the first issue describing it as, "a substantial and well-illustrated 80-page magazine which really contains something to read".. From February 1918 it became the official magazine of the Royal Navy Volunteer Reserve, and the name was changed to The Yachting Monthly and Magazine of the R.N.V.R ...
Sailing videos from Britain's best-loved cruising magazine. Visit www.yachtingmonthly.com
Yachting is one of the marine industry's most respected boating magazines committed to enhancing your boating experience.. Every issue of Yachting will feed your passion for the yachting lifestyle with extensive coverage of premium yachts, equipment, technology trends, world-class destinations, luxury charters, electronics and much more. Order Yachting today and receive 1 year for just $39!
Yachting Monthly, London, United Kingdom. 38,010 likes · 248 talking about this. Yachting Monthly has been at the heart of the British yachting market for over 100 years. Like our page to receive the...
6 - Focus on the right audience. Brands must focus on the decision-makers and new clients of tomorrow in 2023, hence focussing on Gen Z. If brands continue to focus on just Millennials, they will get left behind, and they must re-focus their yacht marketing strategies to target the new audiences. The yachting industry is also growing within ...
Hosted by Yachting Monthly magazine. Threads 15.2K Messages 204.7K. Threads 15.2K Messages 204.7K. Liveaboard marinas on the southcoast UK. Yesterday at 21:31; ashtead; The Thames Forum. A place to discuss boating issues specific to the Thames and other inland waterways. Threads 8.2K Messages 92.5K. Threads 8.2K Messages 92.5K.
Sailing square riggers: 'You're more appreciative of what sailing used to be'. June 25, 2024. Most cruising yacht sailors would agree that any field of knowledge that might sharpen their own skills is worthwhile learning about. But does Patrick O'Brian rattling on about thimbles and….
The most recent YATCO data - from May 2022 - shows that a total of 100 yachts were sold in this month alone, with a combined asking price of more than US$179 million. There were also 350 new brokerage yachts for sale, and 49 listings are currently under contract - a 23% increase compared to April 2022. For comparison, looking at the same ...
Here are 25 Best Yacht Magazines you should follow in 2024. 1. Yachting World. Yachting World, established in 1894, is a leading magazine dedicated to the sailing community. It offers extensive coverage of adventurous sailing, including bluewater cruising, ocean racing, and high-latitude exploring.
It's one thing dealing with heavy weather sailing offshore, but what should coastal sailors do when a big blow is imminent? Yachting Monthly's Theo Stocker s...
Dufour 44 first look: Space for sailing, sunbathing and socialising. March 25, 2024. Yacht design never seems to stand still, including with the new Dufour 44. Although Dufour's last 40-something footer, the 430, was brand new in 2019, the lines are already beginning….
Boating NZ. 1 Sep 2024. Superyacht. 30 Jul 2024. Passage Maker. 20 Aug 2024. Power & Motor Yacht. 16 Jul 2024. Buy a digital subscription to Yachting Monthly with PressReader.com and enjoy unlimited reading on up to 5 devices. 7-day free trial.
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An audience with Libby Purves. Dick Durham; May 23, 2003. 0 shares. 0 shares. Top Yachting Monthly columnist Libby Purves to lecture at Falmouth museum ...