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As the number of billionaires rises and Covid-19 continues to rage, the superyacht industry continues to grow, benefiting from the desire of the ultra-rich to take to the sea.
While the market came to a virtual standstill at the start of the pandemic, those difficult days now appear to be over. Sales of luxury ships over thirty metres have increased by more than 8% in the first nine months of 2021 compared to the same period in 2019 before the pandemic. “2021 significantly outperforms all of the last twelve years,” said brokers Fraser Yachts.
The cost of a superyacht can range from $10 million for a used model to more than $600 million for a new one, according to industry figures.
More than two hundred new boats have been launched for the first time this year and in the last nine months, compared to 165 in the same period in 2019. Some 330 vessels have been ordered to be ready before 2023.
“Some people saw that their ultra-rich yacht-owning friends were having a good time during the pandemic, while they had to lock themselves up at home,” said Pepe Garcia, the president of Spanish shipyard MB92, the world’s leading superyacht company.
Added to this is the fact that the number of billionaires continues to rise. Over the past year, there have been 660 more billionaires, which explains the growing interest of this class of people in superyachts, despite the fact that some environmental protection associations denounce them as being too polluting.
The Italian yacht builder Ferretti is one of those who have seen their order book explode. 900 million in orders for the first nine months of 2021, compared with 691 million euros for the same period two years ago. “There is a beautiful song by Duran Duran called ‘All you need is now‘,” said Alberto Galassi, the managing director. “The pandemic has taught us how fragile our lives are. Postponement is no longer an option for those who can afford it.”
The yacht sector is one of the few winners in the post-containment era, despite fears of contagion and the added costs of COVID-19 for travel.
Read also > YACHT MARKET COULD REACH $15 BILLION BY 2027
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As the number of billionaires rises and Covid-19 continues to rage, the superyacht industry continues to grow, benefiting from the desire of the ultra-rich to take to the sea.
While the market came to a virtual standstill at the start of the pandemic, those difficult days now appear to be over. Sales of luxury ships over thirty metres have increased by more than 8% in the first nine months of 2021 compared to the same period in 2019 before the pandemic. “2021 significantly outperforms all of the last twelve years,” said brokers Fraser Yachts.
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As the number of billionaires rises and Covid-19 continues to rage, the superyacht industry continues to grow, benefiting from the desire of the ultra-rich to take to the sea.
While the market came to a virtual standstill at the start of the pandemic, those difficult days now appear to be over. Sales of luxury ships over thirty metres have increased by more than 8% in the first nine months of 2021 compared to the same period in 2019 before the pandemic. “2021 significantly outperforms all of the last twelve years,” said brokers Fraser Yachts.
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