The big superyacht company: how the yacht industry exploded in 2021
The Covid-19 pandemic has changed things and will change the way yachts are used | Source: Scream
It’s fair to say that 2021 has been a solid year for the mega-rich. So much so that, according to Forbes, more than 2,600 billionaires worldwide have increased their wealth by 2,250 billion Australian dollars this year alone, or 19,100 billion Australian dollars combined.
Bernard d’Alessandri, secretary general of the Monaco yacht club, says the pandemic has severely disrupted the charter industry in the Mediterranean this season – superyachts can cost as much as A $ 1 million per week to charter – but sales hold up because the very rich can still afford to buy and are increasingly looking for a âplace of refugeâ in these uncertain times.
Gone are the days when the ultra-rich were stuck working long hours behind their desks. With the Covid-19 pandemic manifesting the idea that you can truly work from anywhere, these billionaires are buying big and securing their superyacht investment decisions.
âThe crisis will change things. Yachts will be used differently, âhe said, predicting they would become more practical and less of aâ show-off âpurchase. âYou can use the yachts as offices and the whole family can be there,â said d’Alessandri.
And while the focus of yachts has shifted – from a flashy purchase to a place of residence – the numbers associated with the industry have also shifted. According to the Facts and Factors market research report, the yacht industry was worth AU $ 11.45 billion in 2020 and is expected to reach AU $ 15.5 billion by 2026.
It’s no wonder the superyacht industry is doing well. The world authority on superyachts, said Boat Internationa;
Over 40 kilometers of superyachts will be built, launched and delivered by 2026
This year there has been a huge increase in interest in superyachts with Boat International’s 2022 global order book recording an impressive 1,024 projects under construction or on order for next year, an increase of 24.7% compared to the number 821 last year.
Superyacht broker Will Christie told The Guardian that “the market has never been so busy” citing the safety of being on a yacht during the pandemic and the ease of being able to work remotely as two major factors.
Many people say they value the safety of being on a yacht during the pandemic. But it’s also because when in the old days people with enough cash were too busy in the office to justify the purchase, today they can work from anywhere.
Will Christie Superyacht Broker
Boat International’s global order book indicates that the biggest growth area is in the under 45 meter range and the semi-custom market.
In 2021, the number of builders of ships under 30 meters also increased. A total of 424 new projects were advanced in the pipeline, an increase of 30.5% over the previous year (2020).
The range of 30-45m mega-yachts has also seen an increase – with 28% and the largest size bracket, the 45m and above, projects exceeding 10%.
Breaking down the numbers further, the Global Order Book records the largest movements in the categories of expedition yachts, sport fishermen and sailing yachts. Eight-five vessels are currently registered as under construction or on order in the expedition category, an increase of 33% over last year, showing a strong interest in stronger and longer radius vessels. action.
The largest increase is in sport fishermen recording a growth of 133 percent on 26 projects made to order or under construction. To complete the high-performing trio, the sailboats with the 2022 global order book show that the category has its best figures since 2018 with 70 projects, up 18.6% from last year.
Coinciding with the rise of superyachts, the industry is also seeing a shift in what customers want on board with glamorous pools, luxury submersibles and helipads, a regular demand on larger superyachts. Remote working facilities such as conference rooms and offices are also a now common demand as the wealthy seek to run their affairs on the high seas.