Covid-19 rebooted all industries and the new normal created some interesting changes in the yachting market. Some will just be there for this last, others will last so let us have a closer look.
Family experiences first
The different lockdowns separated family members during many months. Getting back together in a secure and relaxing environment, far away from Covid-crowded places is crucial for the family spirit. The abundance of family-friendly activities like swimming pools, sunbathing, sea-scooters, large dining spaces and connected media-rooms…makes every superyacht an ideal place to reunite everyone under the best possible conditions. This is also confirmed this winter as we noticed more refurbishment projects than before indicating many owners want to host their families next summer under improved conditions.
Increased popularity of explorer yachts
Being less shore-centric, explorer yachts allow to travel longer distances, going from the poles to the equator while hosting a much larger spectrum of activities like submarine exploration, speedboats, larger storage spaces… In the end, it is no surprise that explorer yachts become more popular. The shipyards are running at full regime while charter companies have many requests to handle.
While many have learned to work remotely, this allows yacht owner to take longer trips mixing leisure with remote working periods. What was once a way of working reserved for few of us has now become a standard for many. With physical meetings drastically reduced (not to say none), all you need is a good internet connection for doing business. The new normal allows to work from any connected place in the world so why not pick a safe and relaxing solution far away from Covid.
The ability to control health risks inside a holiday bubble is making yachts owning and chartering more attractive. But we could see some major shifts. First, more demand creates more competition so charter companies could be moving to lower tax countries to make a difference. On the other hand, while many owners were using their superyachts outside the summer period, they are now tempted to keep the boat for the annual family reunion in the summer period meaning less superyachts available for chartering. This could also explain the quest for explorer yachts as those can be used by the family during the summer and easily charted for research activities during the winter. So the markets are moving and we’ll see how the numbers present end of the year.
Pushed by the quest to unite the whole family, far away from Covid-19 populations, superyachts became in 2021 a must-visit, healthy and multi-activity destination. It is no longer about trips between harbours as all is focused on the activities on the yacht itself.