As time passes, newer trends make their way into the market. The market size of the yacht industry was reported to be $12 billion. According to the forecast, its compound annual growth rate is predicted to be 4.5% by 2027. It’s been two years since the pandemic hit, and people are finally starting to come out of their homes. 2022 is the year when we embrace change.
Recommended Read: Why A Yacht Is The Ultimate Way To De-stress
2021 has been a great year for yacht sales. Yacht owners invested in the safety and upkeep of their yachts and used them as an escape from their hectic lives. But since trends keep changing, let’s discuss some of the latest trends that the yacht industry seems to have adopted.
1. Preference Toward Chartering a Yacht
The world is evolving, and newer generations have set different standards for the yacht industry. Buying a yacht can cost you heavily; pair that with student loans, and it becomes almost impossible to own and maintain one. Chartering a yacht seems to be the better alternative as more people can incorporate this luxurious vacation into their budget.
2. Vacations are Becoming Luxury Yacht Centric
Whether you’re planning a romantic getaway or a birthday party, the yacht industry has got you covered with its luxury yachts. Luxury yachts are especially trending because of the luxury feel that they offer you when you’re on vacation. The onboard crew also makes the experience worthwhile.
3. Yachts are the More Sustainable and Eco-friendly Option
The yacht world has evolved with time, and now it offers a luxury experience with an eco-friendly touch. Newer models have sustainability incorporated into them. You can now find green models that have reduced carbon emissions to protect the environment.
Recommended Read: How to Go Greener on Your Private Yacht Charter
4. Increasing Demand for Yachts Among the Explorers
COVID-19 had everyone restricted to their homes. It was the worst for explorers because they weren’t used to the lifestyle. After the restrictions were lifted, a surge in demand was seen in the yacht industry. Explorers are always curious and want to sail towards never-crossed boundaries and experience the unknown. Yachts offer a great pathway for them to unleash their most adventurous selves.
Charter a Luxury Yacht for a Fun Experience!
Nothing like renting a yacht and cruising into the waters with your favorite humans. At Cabo Yacht World, we offer you a wholesome sailing experience with luxury yachts. Charter our 45ft Azimut Flybridge for a luxurious experience in Cabo San Lucas this summer.
Reach out to us to learn more about our services.