Yachting has long been the vacation style of choice amongst Europe’s ultra-wealthy. The continent offers manageable sailing distances, pleasant waters, and an abundance of spectacular coastlines and gorgeous islands to moor at.
Plus, Europe dominates the luxury yacht market, with shipbuilders in Germany, Italy, and the Netherlands renowned for high-quality craftsmanship and technological innovation.
According to a new report published by Allied Market Research, the luxury yacht market size was valued at $5.8 billion in 2020 and is expected to reach $12.8 billion by 2031, reflecting a compound annual growth rate (CAGR) of 8% from 2022 to 2031. In terms of volume, Europe occupied around two-thirds of the market share in 2020.
Research by Yacht Sourcing found that emerging markets in Eastern Europe are contributing to this soaring sector growth. Croatia and Montenegro have invested heavily in yachting infrastructure and are incentivizing foreign yacht purchases.
So here’s where Europe’s senior executives and C-suite of the Fortune 500 will be vacationing on yachts this summer and how sailing trips are gaining favor as a way for luxury travelers to escape overcrowded hotels and destinations.
