Marketing

Yacht Charter Market Trends

With many borders closed, airlines grounded and restrictive quarantine laws in place due to the pandemic, 2020 has been challenging year for the travel industry and this includes the luxury yacht charter market. The charter yacht market practically ground to a halt for the Mediterranean season, with Caribbean only faring slightly better. As a result of extensive testing for crew and clients and rigorous hygiene protocols, luxury yacht charters are regarded as one of the safest ways to holiday while COVID-19 spreads.

There are signs that 2021 will be a more positive year. Yacht charter market trends show that demand for summer are encouraging, with yacht brokers reporting that the shoulder seasons are showing interest from clients.

Luxury yacht charters are benefiting from the demise of other travel sectors, such as the cruise industry. The pandemic has also led to a growth in recreational trips across the board, with superyachts providing the means to facilitate this trend. Superyachts offer the ultimate in comfort and quality and are comparatively safe – once aboard they form a safety bubble and there is no need to disembark since they are so well equipped.

With positive news of the distribution of several types of vaccines against Covid-19 the market is hoping to return to business as usual by Easter of this year. Popular destinations for 2021 are expected to include Eastern Mediterranean countries such as Croatia, Turkey and Greece that have suffered less from the effects of the pandemic than their Western Mediterranean counterparts. Booking agents have also seen a growing interest in sailing holidays in less often chartered areas, such as the western fjords of Norway.

Yacht brokers remain optimistic that clients will return to luxury charters in significant numbers but experts caution that there will be changes to the way people travel as a result of the pandemic. People are choosing to travel locally, undertaking fewer long-haul plane journeys to reach their final destinations and are also choosing yachts that fit their group ‘pod’ or ‘bubble’ which could see a focus on smaller superyachts rather than larger vessels.

While 2020 has seen a steep decline in foreign travel and luxury holidays across the board, there are reasons to believe that the Yacht charter market trends will rebound in 2021 with isolation and luxury playing a large role in making luxury yacht charters an attractive holiday option for those with the disposable income to be able to take advantage of them.

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