THE YACHTING MARKET IN GREECE AND INTERNATIONALLY

Over the past two decades, the number of superyachts in the world has increased dramatically, an indication of how radically the industry is growing, and although the global financial crash of 2008 affected the superyacht market, like any other luxury good, the market has shown remarkable resilience. The yachting market in Greece in 2023 was very good, making records in many fields. First of all, there was an increase in sales in all sectors. In sailing boats, the increase reached 10% compared to 2022. In motorboats, the increase was around 8% compared to 2022, while catamarans were particularly popular, with a 15% increase compared to 2022.

At the same time, there was also an increase in charters, overall in pleasure boats the increase reached 12% compared to 2022. Specifically, for sailboats the increase was greater and reached 15%, while for motor boats the increase was 10% in relation to 2022. The main reasons for the boom in Greek yachting are that our country is a safe and attractive destination. The exceptional Greek islands and the climate, the unlimited natural beauty, the gastronomy, the services and the infinite choices are the main attractions for the tourist elite.

I would say the most important points arising from the business of yachting in our country is the fact that Greece managed to be first in yachts for charter in Europe. There were 2,580 vessels available for charter in Greece which brought an increase of €1.5 billion in charter revenue.

The yachting market consists of many individual markets, from bareboats to megayachts, sailing or motor yachts, weekly and daily charters.

Popular destinations are still the Cyclades, with Mykonos, Santorini, Paros and others being the favourites, the Dodecanese and of course the Ionian Sea with its beaches which are unique worldwide. Based on previous years' data, market trends for 2024 appear to include further growth in demand with the trend being towards personalized experiences for each passenger, what they call experiential yachting abroad. The aim is to increase demand for new destinations but also an extension of the season, starting earlier and ending later.

yachting-market

Due to Greece's good performance in yachting, there will be increased investment in new marinas and upgrading of existing infrastructure.

However, the challenges we will be faced with will primarily be the management of increased demand, with an increase in available vessels, infrastructure and automated services. Finally, protecting the environment by implementing sustainable practices and adopting "green" boats. Overall, 2024 is expected to be another successful year for yachting in Greece, with steady growth and new opportunities for investment and innovation.

But also internationally, the yachting market is expected to grow at a steady pace in 2024, with the opening of new markets, which show an increase in interest, such as China , India, the Middle East and others. Environmental awareness is now a criterion for charterers. The demand for "green" boats and sustainable practices is rising and shipyards internationally are responding with higher standards in both energy saving and pollution reduction.

Naturally our world is full of challenges, let's not forget that the pandemic was decisive as were economic crises as well as wars. More specifically, the unstable economic environment and the effects of inflation and the war in Ukraine may hold back the growth of maritime tourism in the region, as well as the supply chain itself with disruptions to production and material supply.

Finally, we should note that Greece is a favorite destination for celebrities who wish to enjoy yachting in the Greek seas. The reasons are the exceptional Greek islands, the variety with many options for every taste, from cosmopolitan to secluded islands and of course the high level of services, the luxurious marinas, the equipped boats and the experienced crews.

 
×

Email to boatsandyachting.gr
Phone to boatsandyachting.gr
Back to top