Luxury Yacht Charter Market Report 2024

The luxury yacht charter market size has grown strongly in recent years. It will grow from $15.33 billion in 2023 to $16.27 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth during the historic period can be attributed to an increase in the number of high-net-worth individuals, the rising popularity of exclusive and exotic travel destinations, and endorsements and use of luxury yachts by celebrities. Enhanced amenities have also boosted the appeal of luxury yachts, along with the financial capacity of affluent individuals to invest in luxury.

The luxury yacht charter market size is expected to see strong growth in the next few years. It will grow to $20.89 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The anticipated growth during the forecast period can be attributed to an increase in global wealth, the continuing trend towards experiential luxury, growing environmental awareness and demand for sustainable travel, improved onboard amenities, and a broader availability and variety of yacht charter services. Major trends for this period include eco-friendly technologies such as hybrid propulsion systems, solar panels, and waste treatment, personalized onboard services, the use of high-speed internet and smart technologies, health and safety measures, and fractional ownership and yacht membership.

The growth of marine tourism is expected to drive the expansion of the luxury yacht charter market. Marine tourism encompasses a range of recreational activities centered around the marine environment, including sailing, cruising, water sports, and coastal tourism. The rise in marine tourism is attributed to improved transportation options, enhanced marinas, better facilities, and increased awareness and promotion of sustainable tourism practices. Luxury yacht charters offer customized itineraries, allowing tourists to visit multiple destinations at their own pace. This flexibility enables travelers to explore secluded coves, vibrant coastal towns, and remote islands that are often inaccessible to larger cruise ships. For instance, in July 2024, the National Oceanic and Atmospheric Administration's Office for Coastal Management, a US-based government agency, reported that in 2021, the marine economy saw a 7.4% increase in its GDP contribution and a 10.5% rise in sales. The tourism and recreation sector showed the most significant growth, with a 27.3% increase, amounting to $49.8 billion. As a result, the rise in marine tourism is fueling the luxury yacht charter market.

Key players in the luxury yacht charter market are focusing on developing innovative yachts, such as 56-foot motor yachts, to gain a competitive edge. A 56-foot motor yacht is a mid-sized luxury vessel designed for leisure and recreation, offering a blend of performance, comfort, and amenities suitable for both short trips and extended voyages. For example, in May 2024, Sunseeker, a UK-based luxury performance motor yacht brand, unveiled initial computer renderings of the new Sunseeker Predator 55. This 56-foot motor yacht features sleek styling and impressive performance, equipped with twin Volvo Penta IPS-950 engines that enable speeds of up to 36 knots. This performance capability reinforces Sunseeker's reputation for high-speed luxury yachts.

In September 2023, Fraser Yachts, a US-based yachting firm, acquired Atalanta Golden Yachts (AGY) for an undisclosed amount. This acquisition strengthens Fraser Yachts' position in the growing Greek yachting market, leveraging AGY's extensive local expertise and client network. Atalanta Golden Yachts (AGY) is a US-based yacht management and chartering company.

Major companies operating in the luxury yacht charter market are Burgess Company, Fairline Yacht, Dream Yacht Charter, Boat International, Bluewater Yachting, Simpson Marine, Zizooboats, Northrop & Johnson, Fraser Yachts, Yachting Partners International, Boatsetter Inc, West Coast Marine Yacht Services, Thai Charters, Super Yacht Logistics, Windward Islands, Charterworld, Martello Yachting, Boatbound, Yachtico Inc., Charter Index, Inter Yacht Charter, Atalanta Golden Yachts.

Europe was the largest region in the luxury yacht charter market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the luxury yacht charter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the luxury yacht charter market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Luxury yacht charter involves renting high-end, fully-crewed yachts for leisure and recreational purposes. These yachts are typically equipped with premium amenities and provide services aimed at delivering an exclusive, personalized, and luxurious experience on the water.

The main types of luxury yacht charters include sailing yachts, classic yachts, motor yachts, catamaran yachts, and open yachts. Sailing yachts are recreational vessels designed for pleasure, cruising, and racing, distinguished by their size and sophistication compared to smaller sailboats. Price ranges for these yachts include economy, mid-range, and premium, with sizes varying from small to large. They cater to various applications, including individual, family or group, and corporate use.

The luxury yacht charter market research report is one of a series of new reports that provides luxury yacht charter market statistics, including luxury yacht charter industry global market size, regional shares, competitors with a luxury yacht charter market share, detailed luxury yacht charter market segments, market trends, and opportunities, and any further data you may need to thrive in the luxury yacht charter industry. This luxury yacht charter market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The luxury yacht charter market includes revenues earned by entities by yacht charter fees, value-added services, fleet management, brokerage, and platform monetization. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.