THE MUST-TO-KNOW YACHTING TRENDS IN 2022
By: Beatrice Chiardi
4th February, 2022
The spread of Covid-19 worldwide has strongly impacted the world we live in today, contributing to the change and the development of numerous aspects. From a yachting standpoint, we have seen a strong boom in both sales and charter transactions. Clients are willing to have travel, have fun, think about themselves and their families, and feel free. As the future ahead of us remain still quite unpredictable, we can surely consider 2022 a “year of change”.
As time goes by, new habits and trends make their way in. As we can see from the new range of yachting clients, greater attention is paid to the world that surrounds us: the quality is prioritized over the frequency, privacy has a higher and more meaningful values, and great emphasis is given to the experience itself.
As to say things clear, superyachts are considered the most expensive asset a UHNWI can own, surpassing the real estate properties, exclusive art collections, high-end jewelry and private jets.
From a yachting sale perspective, 2021 has been a fantastic year, characterized by top records in yacht sales and unprecedented increase in demand. Owners began to get more and more conscient about the safety of their floating home, as well as the sense of freedom that sailing and cruising are able to transmit. The yacht is in fact the perfect mean of escape, a guarantee for total privacy, comfort, and luxury living.
Being an era of change, let’s analyze here below the main trends that are currently characterizing the yachting domain:
MILLENIALS PREFER TO CHARTER A YACHT
The stereotype of the yachting client is changing, as the world is evolving and new generations are taking the lead. Nowadays, the younger generation, Millennials, represent a significant part of the HNWI and UHNWI. These, in fact, are tending towards charting a superyacht rather than owning. At the basis of this choice lies the idea of a sharing culture and economy we currently experience today. In fact, already in summer 2021, as soon as the health restrictions became less severe and the borders reopened, numerous yachting clients began to make charter bookings, making the charter market perform at its highest standards.
Furthermore, the yacht represents one of the safest and most protected mean of transport, offering the opportunity to control the surrounding environment, ensure everyone in this holiday bubble is tested or vaccinated, making the charter experience more alluring and secure.
EXPLORER YACHTS ARE CONTINUING TO RISE IN POPULARITY
Explorer yachts are still a popular demand for yacht enthusiasts. Whether a client is keen to purchase or charter, explorer yachts are among the most demanded vessels, due to their peculiarity, great cruising performance, and immense ability to travel in remote locations. Clients are curious. They want to explore, see, feel and experience. With the Covid-19, the idea of exploring and traveling far away has been a recurrent idea in people’s mind. Now, more than ever, people want to travel ,in order to feel free. Perhaps, they might want to cruise towards new undiscovered regions in the north as Greenland or Iceland, therefore, combining yachting with philanthropy and experiential purposes—merging with the beauty of nature of nature and exploring some of the most remote and unique locations worldwide.
SUSTAINABILITY AND THE ECO SUPERYACHT
The theme of sustainability has continuously evolved in the recent years, now maturing in a proper standard. The yachting world is highly adapting to this standard, from the evolvement of the new constructions to the developments of new charter and onboard experiences. Some examples relate to the reduction of carbon emissions and the various elements that lead to the environmental impact. Nowadays many shipyards, for example, are deeply considering sustainability – introducing new hybrid and green models, able to offer clients the possibility of enjoying luxury with a touch of respect of the world we live in today. Moreover, from a charter standpoint, numerous clients are searching for eco-friendly yachting solutions, as well as entertainment features. Even onboard, more and more “green” materials and features are being implemented.
STYLE, CUSTOMIZATION AND PERSONALIZATION WITHIN THE YACHTING SPHERE
Superyachts may be defined as the highest form of luxury asset, which each Owner personalizes in relation to their tastes and preferences. From the outstanding quality in design to the materials used to bespoke tailor-made onboard services, yachts offer unlimited space and features to personalize at one’s tastes.
The need for uniqueness is a strong element for UHNWI, as well as, a strong driver for the consumption of luxury goods. Even self-customization may contribute to enhance the unicity of an asset, making the Owner feel proud of what he owns, and knowing that nowhere in the world a copy of it may be found.
From a sales perspectives, personalization and customization are fundamental to make yacht Owners feel special and respected. They constantly work on their ego, aiming to feel powerful, attractive, and successful. For them owning precious and unique assets is a “must”, in order to feel accepted in their society. Instead, from a charter standpoint, the most important part is not the asset itself, but the experience. On one hand, first-time charter clients may want to just explore this new cruising experience, benefitting of high level privacy, comfort and servie. On the other hand, other types of charterer may be seeking great thrill and fun, looking to explore the unseen and practice all kind of water activity and sport.