In 2020, the global yacht charter market was valued at $15.69 billion and is expected to reach $24.6 billion by 2026.
In Europe and North America, in parallel with the addition of new yachts to their fleets, charter companies have invested considerable sums to modernize. One example is Imperial Yachts, which in March announced the signing of a new 100-meter project, Project Titanium, in collaboration with The Italian Sea Group, the parent company of Admiral Yachts. The project is scheduled for delivery in 2025.
The boating season in North America runs from May to October, and in South America it runs from January to September. Florida has one of the largest gatherings of private superyachts and has two coastal borders, one in the Atlantic and one in the Gulf of Mexico, and has approximately 30,000 lakes. In Europe, the summer season, mainly from May to September, is the best time to charter a yacht.
Europe is one of the main destinations for marine culture, especially Northern Europe, which has a very rich ecosystem for yacht charter. Countries like England, Ireland, Scotland, Denmark, Norway, Sweden, Germany and Russia offer a variety of options to choose from including crewed yachts, luxury yachts and motor yachts. Many superyachts are also available for charter as well as exploration/expedition yachts.
Many countries are reforming their rules and tax regulations, which is having an impact on the yacht charter market. As an example, in January 2020, the French tax authorities issued an official tax bulletin containing new rules that affect charter contracts signed after March 30, 2020. VAT will be applied at a rate of 20% when the yacht is sailing in EU waters, and there will be no VAT when the boat is sailing in international waters.
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Featured photo : © Admiral Yachts
