Overview and Scope
Yacht charter refers to a contract for the provision of sailing or motor yachts on a temporary basis. The charterer, or ship owner, hires out his ship for a price. The skipper of the yacht does not have to be the person who charters the yacht. These are used for a specific period of time as a part of marine tourism for luxurious experiences.
Sizing and Forecast
The yacht charter market size has grown rapidly in recent years. It will grow from $15.19 billion in 2023 to $16.85 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. The growth in the historic period can be attributed to seasonal demand and tourism patterns, regulatory changes in yachting industry, environmental awareness in yachting, emergence of charter brokerages, global tourism and destination appeal.
The yacht charter market size is expected to see rapid growth in the next few years. It will grow to $25.46 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%. The growth in the forecast period can be attributed to flexible and adaptive charter policies, enhanced charter booking platforms, influence of social media and influencers, luxury lifestyle and high-end experiences, expansion of emerging markets. Major trends in the forecast period include rise in shared charters and group travel, rise in experiential tourism, personalization in services, technological innovations in yachts, social media influence on travel choices.
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Segmentation & Regional Insights
The yacht charter market covered in this report is segmented –
1) By Type: Motorized Yacht, Sailing Yacht, Other Types
2) By Contract: Bareboat Charter, Crewed Charter
3) By Size: Large, Medium, Small
4) By Application: Vacation/ Leisure, Sailing, Other Applications
Europe was the largest region in the yacht charter market in 2023. North America is expected to be the fastest growing region in the forecast period. The regions covered in the yacht charter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing popularity of luxury marine tourism is expected to propel the growth of the yacht charter market going forward. Marine tourism refers to leisure endeavors entailing travel away from one’s home and having the marine environment as their host or main focus. Yacht charters are widely used as a premium form of marine tourism for luxurious and tremendous experiences. For instance, in December 2023, according to the Anadolu Agency, a Turkey-based news agency company, 95 cruise ships came to the Turkish ports in November 2023, up 39.7% every year. Therefore, the growing popularity of luxury marine tourism is driving the growth of the yacht charter market.
Key Industry Players
Major companies operating in the yacht charter market report are Burgess Yachts Limited, Dream Yacht Worldwide, The Moorings, Camper & Nicholsons International Ltd., Fairline Yacht, Princess Yacht Charter, Boatsetter, Boat International Media Ltd., West Coast Marine Yacht Services, Super Yacht Logistics Ltd., Sailogy S.A., Charterworld Ltd., Martello Yachting, Yachtico Inc., Northrop & Johnson, Barefoot Yacht Charters, Fraser Yachts, Incrediblue Lt,d., Orvas Yachting, Partners International, Croatia Charter, Windward Islands Yachting Company, Bluewater Yachting, Horizon Yacht Charters, Navigare Yachting BVI, Sunsail Limited, Yacht Getaways, TUI Marine Limited, Kiriacoulis Mediterranean, Luxury Yacht Group, Edmiston, Ocean Independence, International Yacht Corporation, YPI Group, Nicholson Yacht Charters & Services, Zizooboats GmbH
The yacht charter market report table of contents includes:
1. Executive Summary
2. Yacht Charter Market Characteristics
3. Yacht Charter Market Trends And Strategies
4. Yacht Charter Market – Macro Economic Scenario
5. Global Yacht Charter Market Size and Growth
…
32. Global Yacht Charter Market Competitive Benchmarking
33. Global Yacht Charter Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Yacht Charter Market
35.Yacht Charter Market Future Outlook and Potential Analysis
36. Appendix
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