Yacht Charter Market

Yacht Charter Market Outlook

Growing Fondness for Sailing Vacations to Boost Global Yacht Charter Market Growth

The Yacht Charter Market is valued at USD 8.8 Bn in 2026 and is projected to reach USD 12.5 Bn,  growing at a CAGR of 5% by 2033.The global yacht charter market is expected to rise due to an upswing in leisure activities, as tourism becomes the new form of consumerism. Appealing to such a wide range of people - young and old alike, rich and the ones of budgets, the yacht charter market is expected to witness an exponential rise. Inclusive of catering, detailed itinerary, and equipped with entertainment, chartering a yacht has become a new form of vacationing. 

The popularity of yacht charter hinges on the growing number of people opting for outdoor vacations that equal the experience of a five-star hotel. Chartering a yacht provides the ability to visit multiple locations in one trip, eliminating the inconveniences of road or air travel. It also has the added benefit of allowing guests to dine in the surroundings of a secluded bay or alcove, which is the unique selling point of this service that also bolsters the growth of yacht charter market.

Commodification of Luxury to Drive Global Yacht Charter Market Ahead

Growing aspirations to live it out with luxury have led to accelerated demand for yacht charters. This is also a result of with social media influences. The service providers in the global yacht charter market are increasingly investing in creating high-end experiences for events such as birthdays or weekend getaways. This has drawn several younger people to yachts charters, driving the yacht charter market with their want for celebrating or gaining experiences. Government initiatives to encourage tourism is also another factor that will stimulate the demand for yacht charters. For instance, the Indonesian Government refurbished its marine tourism policy by excluding the Clearance and Approval for Indonesian Territory (CAIT). This change is projected to increase yacht visits, which were at 6,000 yachts in 2019 alone, creating a profit of US$600 Mn.

The global yacht charter market is likely to be affected by the high cost associated with rentals. Additionally, the costs to maintain yachts are expected to act as a restraint as well, which percolates rentals charged. The mounting costs of service and maintenance of a yacht with expensive routine refitting’s and redesign, engine, and propulsion are often unavoidable and cost up to 10% of the yacht’s value each year.

Motor Yachts Will Lead Global Yacht Charter Market with Improved Functionality 

According to the type of yacht charter, the motor yacht is expected to lead the global yacht charter market during the forecast period because unlike a sailing yacht it powers through sea elements to cover larger distances in lesser time. Its shallow draft design permits the yacht to navigate through shallow and narrow passages. This allows it to explore most of the coastlines hence, which is boosting its demand amongst end users. Motor yachts have bigger deck space, giving users ample area to utilize time while travelling. Luxury motor yachts offer modern conveniences and better communication options that are also propelling the adoption of motor yachts over sailing yachts.

Supportive European Commission Policy Will Keep Europe in Leading Position in Global Yacht Charter Market

Europe dominated the global yacht charter market with a market share of nearly 48% in 2020 and shall continue to retain its position during the forecast period as this region is witnessing a growing number of tourists. Countries such as Italy, and Turkey are expected to drive Europe’s dominance. This region also has a dominance of key players along with flight booking services and online yacht charter collaborations. Increased number of licenses issued for watercraft due to the presence of a wealthy population will lead to the growth of yacht charter market in the region. For instance, in 2017, the European Commission report on nautical tourism stated that around 6 million boats exist in European waters, out of which 60,000 charter boats generate around € 6 billion each year. However, over the years Asia Pacific is likely to show a significant growth rate of nearly 24% due to the rising high net worth of individuals and increasing water activities, especially in Southeast Asian countries.

Key Players in Yacht Charter Market Embrace Change of Strategies to Stay Ahead

The global yacht market players are adopting numerous strategies for growth such as collaborations and partnerships, joint ventures, and mergers & acquisitions. For instance, in June 2018, the Sailogy S.A. purchased the German company Master Yachting and became the global leader worth 50 billion. Similarly, Princess Yachts in July 2018 announced the launch of 6 models. This launch was encouraged by a £100 million investment programme that began in 2015. Companies like Marine Max Group and Click&Boat have acquired other companies with an intent to square off competition and expand their business reach.

Some of the key players operating in the global yacht charter market are 

• Dream Yacht Charter
• Northrop & Johnson
• Burgess Yachts
• The Moorings Limited
• Boatsetter, Inc.
• Yachtico Inc.
• Camper & Nicholsons International
• Fraser Yachts / Fraser Yacht Services
• Sailogy S.A.
• CharterWorld LLP
• Super Yacht Logistics, LLC
• Nautal
• Boat International Media Ltd.
• West Coast Marine Yacht Services Pvt. Ltd.
• Sunseeker Charters

The Global Yacht Charter Market is Segmented as Below:

By Contract Type

• Bareboat
• Crewed

By Yacht Size

• Up to 40m
• 40 to 60m
• Above 60m

By Yacht Type

• Motor Yacht
• Sailing Yacht
• Others

By End-use

• Leisure
• Business
• Others

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa