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With the financial crisis receding into the past the international luxury yacht market is staging a comeback. Whereas the past decade had seen both luxury yacht rentals and purchase come under pressure due to the credit crunch today it is slowly but surely reaching levels last seen in the 1980’s. While many traditional buyers and rental client markets were stagnating (although now recovering) new entrants of both buyers and renters are helping to buoy the market. Increasing levels of affluence among Asian consumers and a new sense of optimism in certain Middle Eastern markets (amongst these Dubai where the property market is an excellent indicator of increased enthusiasm) have meant that large numbers of aspirant buyers are now bringing new excitement to the activities of yacht brokers. Many of these buyers have not been exposed to the yachting lifestyle and also have a desire to explore regions that were previously not part of their leisure and holiday planning. These aspirant buyers (and those who wish to rent yachts) are now ready to explore traditional yachting destinations such as the Caribbean and the Pacific, as well as the immense beauty of destinations closer to home such as the islands that can be found in the Andaman Sea.
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It’s not so long ago that the world experienced a credit crunch and global fiscal crisis that has been characterised as one of the worst global crisis in history. Stock markets fell and those who had formerly enjoyed incomes in the top 10% of the world’s population came under enormous pressure to cut back on some of the their investments. For many of this mega rich one of the investments that they had in their portfolio was a yacht. Others they were actively investigating yacht sales. So obviously in that sort of fiscal environment yacht sales plummeted. However – the world has moved on from there and today yacht sales are reaching levels that the industry enjoyed in the mid 80’s.
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Also powering the increasing success of yacht charter is the fact that previously unexplored areas are opening up to yachts. In regions like Southeast Asia for instance yachts are now plying the waterways off countries like Vietnam which until very recently did not boast infrastructure that could service the larger super and mega yachts. The increasing amount of infrastructure development and the availability of berths now means that not only the mega yachts, but also smaller variants that are available for charter can now explore the beauty and splendour of these new waters. Of course the traditional destinations in the Andaman Sea such as Phuket remain evergreen destinations, while the Pacific and North Atlantic (where Islands such as Bermuda can be found) remain some of the most popular destinations for those who want to enjoy the sheer pleasure of life aboard a yacht – whether it is a charter yacht or a one purchased for personal enjoyment. Other destinations such as the islands in the Mediterranean or the Caribbean continue to attract holidaymakers aboard luxury yachts in enormous numbers. However, even the increasing numbers of those who choose luxury yachts cannot change one simple fact – the seas and oceans offer the opportunity to get far from the crowds and enjoy a lifestyle second to none.
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For those who choose to engage is yacht charter one of the most difficult decisions to make will be which part of the world to explore. There are a number of very mature leisure markets that have been satisfying the requirements of the yacht fraternity for decades. Amongst the most mature of these are the islands and mainland’s of the Mediterranean region. This region remains one of the most popular destinations for those who choose yacht rental. The area around the Greek Islands for instance has probably featured in more classic movies than any other yachting destination in the world – and this high visibility has translated into it becoming one of the global hotspots for yacht charter. The infrastructure in that part of the world is exceptional and the wide variety of choose when it comes to choosing a berth for the night is also a factor in attracting hordes of yachts to the area. The sheer number of destinations in a relatively small area also makes chartering a yacht to explore the Mediterranean an incredibly popular choice for even those new to yacht charter. In fact it’s not only the Greek Islands that attract charters – it’s also the mainland’s of countries such as Spain and Portugal, as well as destinations such as Montenegro that make it such an exciting place to simply lie back and explore at your own pace – something that is made possible when you can choose your own agenda aboard a charter yacht.
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Imagine a life that allows you to explore a world where you are in complete control. With luxury yacht charters or ownership the only limitation is how hard you want to chase the horizon. Visit some of the most luxurious islands in the world and enjoy new cultures and experiences – or set sail for the sunset and drop anchor in a secluded bay. Reserve a berth at a luxury destination or drop anchor in a secluded bay and dive for your dinner which will be prepared by a master chef. The world is your oyster when you make the decision to explore the potential of yacht charter or ownership.