Yacht Charter The market report provides separate complete analyzes to the United States, Canada, Japan, Europe, the Pacific and the rest of the world. Annual estimates and forecasts reported for the period 2018 to 2026. Market data and analyzes are derived from primary and secondary research.
Yacht charter market growth is heavily driven due to increasing interest in luxury cruising from high net worth and ultra high net worth individuals (UHNWI) worldwide. With more than 200,000 households falling under ultra high net worth category, yacht charter has gained enormous popularity since the last couple of years. Similarly, according to the World Capability Report, Capgemini 2017, the total number of high-value people (HNWI) worldwide rose by almost 8% to a record-breaking 16.5 million. This has secured a promising consumer base for yacht charter services worldwide.
Due to increased interest in people against sea tourism, the yacht charter business is also able to show robust growth in the following years. Recreational sailing has witnessed the tremendous popularity for the last couple of years, paving the way for yacht charter services.
Rising prosperity and inclination for luxury lifestyles have markedly increased the demand for yacht chartering services worldwide. The emergence of new tourist destinations (like Southeast Asia) offering luxury cruises along with scenic beauty has been encouraging HNWIs and UHNWIs worldwide to explore such tourist destinations.
Increased effort from yacht builders and service providers focusing on delivering more luxury features and memorable experience is another important factor that promotes yacht charter business. Yacht charter companies are now more focused on providing improved luxury cruising to their consumers.
These companies have increased their focus on improving their infrastructure, including more sophisticated bars and restaurants, Internet connectivity and other related IT tools. Yacht charter companies also emphasize providing online booking and guidance to yacht charter. This has further facilitated the service and thereby supported market growth.