Yacht Charter Market: Trends & Opportunities with Forecast 2019 - 2027

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Transparency Market Research has published a new report on the global yacht charter for the forecast period of 2019–2027. According to the report, the global yacht charter market is projected to reach ~US$ 25.5 Bn by 2027, expanding at a CAGR of ~7% during the forecast period.
Global Yacht Charter Market: Key Insights
  • According to the report, the global yacht charter market is projected to witness major expansion owing to the emergence of luxury tourism across Asia Pacific.
  • Shift of consumer trend from ownership to rental is anticipated to drive the yacht charter market.
  • Newer business models are emerging regarding yacht charters, such as skippered charters or cruise style charters.
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Expansion of Global Yacht Charter Market
  • The high cost associated with yacht ownership is encouraging customers to opt for yacht charter instead of buyouts. A yacht charter is a more economic travel scheme, as consumers pay only once during the usage as against for ownership, and can fly to the destination and then charter rather than sail to the destination, saving time and fuel. Consumer preference associated with owing luxury assets such as yachts is changing, and people are more acceptable towards charter services, which is estimated to drive the yacht charter market.
  • Remote destinations such as Alaska, U.S., Sea of Cortez U.S., Antarctica, and Micronesian islands in Asia Pacific are gaining popularity among tourists, which, in turn, is estimated to boost the yacht charter market.
  • Increased popularity of yacht charters for corporate events and business affairs is anticipated to drive market growth.

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