Charter programs can be a pivotal part of the equation for those looking to buy a yacht — not only does it help offset the costs of ownership, it also ensures that your boat will receive professional maintenance, service, and care even when you’re not using it. There is a right and wrong way to charter your yacht and with our Business Yacht Ownership® program, we make sure your yacht is chartered the right way, in the right markets, with the right support. According to Transparency Market Research, the yacht charter market is anticipated to expand rapidly and the firm estimates that the yacht charter market will be worth almost $15 billion by 2025. There are several factors driving this demand, but we have highlighted some of the most important.
1. Growing number of yacht charter destinations are now easier to get to
Easier travel to sought-after destinations has been a driving factor in the increasing demand for charter yachts. Never before has it been as easy or as cost-efficient as it is now to experience the Bahamas, the Virgin Islands, and the world’s most idyllic locations. As travel destinations and transportation options continue to expand, expect the charter yacht market to grow alongside.
2. Advanced yacht technologies make cruising more accessible to all
Technologies like LED lighting, advanced temperate controls, and stainless steel appliances are common, supporting the luxury that affluent charter guests have become accustomed to on land. Additionally, the yachts themselves have transitioned into “green” vessels through use of diesel-electric engines and solar panels to harness the energy of renewable resources. All of these technologies come together to create a unique and desirable experience driving the demand for yacht charters across the globe.
3. Growing affluent population with high disposable income
As the number of high net worth individuals increases, so does the demand for luxury items such as yachts. In response, there is a growing inclination among consumers to explore new destinations. This trend, coupled with the rising number of charter destinations is boosting the entire charter market.
These trends are great news for those owners who have considered placing a yacht into any charter program. If you have been thinking about enlisting your current vessel in a program, or have wondered about the financial benefits of chartering that may allow you to invest in a yacht, now is a great time to find out about the options available to you.
Atlantic Cruising Yachts’ charter division, Waypoints®, has just announced a new partnership with a charter company in Key West, Florida, adding to the list of additional partners in locations stretching from Annapolis, MD to the Virgin Islands. Waypoints® offers you the flexibility to place your yacht into charter management nearly anywhere in the Atlantic or Caribbean, backed by a shared reputation for quality management and maintenance. Contact our team today to find out more!