Yacht chartering is renting or chartering a motor yacht and traveling to various destinations for a vacation activity or a business event. Yachts can be categorized into the following types:
- Mega yachts: It is above 50 meters in length and designed for exceptionally big groups and larger families. Mega yachts are attended by professional crews of several full-time members.
- Superyachts: A superyacht is above 30 meters in length. They are usually equipped with an array of amenities such as audio-visual entertainment and water sports equipment.
- Luxury yachts: Luxury yachts are ~24 meters in length and are suitable for small families and groups. They are habitually crewed by permanent or seasonal crews from two to four members.
- Sports cruisers: These are boats less than 18 meters in length. These models are suitable one to two persons for relatively short day cruising.
Read report summary or request a free sample copy of the report “Yacht Charter Industry Procurement Intelligence, Supplier Intelligence, Supplier Ranking, Pricing &Cost Structure Intelligence, Best Practices, Engagement Model, Low &Best Cost Country, Day One Analysis Report, 2020 – 2027”
The global yacht charter market valued at ~USD 15 billion in 2020 and it is expected to grow at a CAGR of 5% from 2020 to 2027 due to growing preference among travelers for luxury marine tourism and personalized services. Europe is the largest regional market with more than 40% share and is expected to continue leading during the forecast period as countries, such as Greece, Croatia, and Turkey are among the most popular tourist destinations. 24-69 meter yacht segment has the highest market share owing to factors such as availability of variants, which also includes a vessel having wind sailing capabilities that help save fuel and ensure traveling in favorable wind direction. Moreover, its low maintenance cost, shallow draft for water anchorages capability, and lower moorage cost makes it the most preferred choice for customers.
The major cost components of yacht charter services include the cost of crew members, food and drinks costs, fuel costs, dockage, communication costs, etc. These components together accounted for more than 80% of the overall cost of service. Other cost drivers include VAT and insurance costs.
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- Beneteau S.A
- Sunseeker International Ltd.
- The Moorings Limited
- Camper &Nicholsons International Ltd.
- Sunsail Worldwide Sailing Ltd.
- Argo Nautical Limited
- Kiriacoulis Mediterranean Cruises Shipping S.A.
- Boat International Media Ltd.
- Yachtico Inc.
- Fraser Yachts Florida Inc.
The global yacht charter market features a moderately fragmented landscape as the industry leaders contribute less than 30% of the overall market share. Leading suppliers are strengthening their presence through multiple mergers and acquisitions.
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