The superyacht sector is flourishing both in terms of new build orders and second hand sales. Yet there is a looming challenge for the industry: how to attract the next generation of buyers and demonstrate yachting is a past time for all generations.
The latest Monaco Yacht Show, in September, saw yacht owners, future yacht purchasers or charterers, and their advisors convene in their masses at Port Hercules. This year 121 superyachts were on display, collectively worth $3.5billion. Of those, 42 were making their worldwide debut and 45 per cent were less than two years old.
According to reports there was a positive upbeat atmosphere reflective of the strong new-build market, which means orders for superyachts (longer than 24 metres) have hit record highs with more than 500 currently being built in shipyards around the world. This was also the case in the buoyant second-hand market which continues to benefit from the long waiting times for new build orders.