2020 had a significant impact on a myriad of industries across the globe, and yachting was no exception. As a sense of hope arises amidst the current pandemic and a “new normal” manifests, the future is perceived as unpredictable; yet one thing that resonates is that 2021 will be a year of change. When it comes to the world of superyachts, we’re seeing greater attention paid to the world that surrounds us; we’re seeing quality of trips prioritized over frequency; we’re seeing privacy valued more than ever before – the list goes on.
Superyachts become a must-visit destination in itself
Superyachts are the most expensive asset a UHNWI can own, surpassing residential property investments, private aviation, high jewelry, and exclusive collectibles. 2020 has become one of the most flourishing years for the yachting industry, with top records in yacht sales and unprecedented increase demand in yacht investment. Yacht owners realized that owning their intimate sanctuary, providing a private, safe and nurturing environment - offering exceptional backdrops and service that is second to none - is what a superyacht is ideally placed to do. Hence, yacht owners have been less likely to sell their yachts, leading to a significant increase in the asking price for superyachts.
Charting is on the rise among Millennials
The younger generation—Millennials are tending towards charting a superyacht rather than owning, finding its origin in the sharing culture and economy we currently experience. If the trend towards private vacations continues, then yacht charter should see a rebound faster than other tourism areas. The ability to control your environment, ensure everyone in your holiday bubble is tested, and likely be vaccinated will make yacht charter ever more alluring and secure in the coming months.
Conversely, it has also been widely proved that value in the possession and consumption of luxury brands has also to do with the ability to extend one’s self - charting a superyacht offers a great mental escape for transcendence.
Explorer yachts will continue to rise in popularity
One knock-on effect of the Covid-19 pandemic may well be a more pronounced rise in less shore-centric cruising - away from the typical yachting hotspots as St. Tropez and Capri - towards new undiscovered regions in the north as Greenland or Iceland. Yachting enthusiasts today are seeking to explore remote locations, combining yachting with philanthropy and aiming for a purpose and transformational-based experience—evoking and awakening this inner spirit of discovering something new and unseen.
Sustainability and the Superyacht trend
Sustainability has matured into a proper standard in the yachting world as it is continuously redeveloped to find an eco-friendly way, reducing carbon emissions and environmental impact. The Yacht Club of Monaco, co-founder of the Superyacht Eco Association with Credit Suisse, has developed the SEA Index, a tool which allows Superyacht Owners and their Captains to evaluate a yacht’s carbon emissions, effectively accompanying them in their transition towards more energy efficient propulsion systems onboard. At the forefront of the sustainability trend are more conscious and light materials used in yacht interior design and new innovations for fuel, i.e., hydrogen discover more in this article.
Superyachts: an obsession with customization and personalization
Superyachts represent the epitome of personalized luxury assets, from outstanding quality in design and materials used to bespoke tailor-made on-board services—yachts offer an unlimited array of dimensions to personalize to please everyone’s taste bud. A great charter itinerary can be tailored to include everything guests desire.
First-time charter clients may dip their toe in the charter experience looking for a new way to travel that is reassuringly private, or they may be ready to book the trip of a lifetime to feel free again after the many lockdowns. The need for uniqueness is a strong driver for luxury consumption, as luxury goods’ inherent scarcity transforms then into an effective tool for those attempting to display uniqueness to others. Self-customization can also contribute to enhancing authentic consumer’s pride.
Given these current trends and the increased share of yachting within the luxury industry, the Yacht Club de Monaco has identified the opportunity to once more position themselves as Capital of Yachting.
The EHL Alliance founding member Yacht Club de Monaco is pleased to offer a new bespoke training program to foster new talent for the luxury yachting industry. The dedicated La Belle Classe Academy compromises various tailored all-encompassing modules all year round, ranging from Art-of-dining to basic safety via navigation techniques.
The Yacht Club de Monaco has identified the continuous increase in service standards and complexity of quality on superyachts cruising our oceans. Situated in the principality of Monaco, the Yacht Club stands for the most renowned and exclusive destination for state-of-the-art service and quality, indeed the capital of yachting.
The newly designed “Yachting Masterclass” aims to immerse its participants into the world of yachting, an introduction to every profession from yacht design to yacht building, brokerage, marketing, etc., enabling participants to gain a 360° vision of the entire yachting industry. To triumph within the métier of yachting, aspiring professionals ought to have a thorough and up-to-date understanding of the forces and frameworks that drive and shape the yachting industry and the essential subjects and leadership skills needed in globally competitive organizations.
To equip the future generation of yachting professionals with all relevant skills and know-how, the Yacht Club de Monaco, in collaboration with Marcela de Kern Royer, the course director, created the Yachting Masterclass.
We continuously challenge ourselves to be innovative and be pioneers in what we offer - Bernard D’Alessandri, General Secretary of the Yacht Club de Monaco.
EHL student experience.
Ryan M. Laver, EHL Alliance ambassador for the Yacht Club de Monaco since May 2020, had the honor of being invited to Monaco’s principality for a summer internship.
“I was delighted in having the pleasure to be invited to the Yacht Club de Monaco for an immersion into various departments. This summer internship has granted me to engage myself within the Members Relations department of the Club, which acts as the Club’s soul, ensuring uncompromised contentment and enchantment of all members. As part of this immersion, I discovered the tailor-made creations at the Yacht Club’s Boutique and the personalized and dedicated services offered to our members in the marina. The expertise and passion inspired me in going above and beyond in crafting unique moments for each member of the Yacht club de Monaco.
This experience has evoked my genuine passion for crafting unique and memorable experiences and emphasized the relevance of cultivating an authentic and personalized relationship with each member. I wish to extend my sincere appreciation to the entire Equipe at the Yacht Club de Monaco and Mr. D’Alessandri to welcome me to the Yacht Club de Monaco and allow me to be part of this unique spirit.