Tourism Council, the U.K. Travel & Tourism sector’s contribution to GDP was estimated around
6.2% in 2017, which is US$ 272.9 billion (GBP 214 billion) contribution to the overall GDP of UK.
Additionally, the rising spending in water-sports and recreational activities by international tourist
and visitors, and high net-worth individuals in the UK has accelerated growth of the UK travel &
tourism industry. According to World Travel and Tourism Council, in 2017, the international tourist
and visitors’ spending increased by 7.9% from the spending of 2016. Hence, this growing tourism
industry has accelerated demand for superyachts, which is expected to aid in growth of the
superyacht market.
Increasing number of superyacht launches is expected to drive growth of the global
superyacht market.
Significant rise in the number of new superyacht launches by prominent boat manufacturers in
countries of Europe such as France, is another key factor for growth of the superyacht market.
For instance, in July 2018, Abeking & Rasmussen, a yacht building company, launched KIBO, an
82m/268ft luxury yacht, in France charter market.
According to the U.S. Commercial Services, in 2018, around 1.8 million people owned a boat
license in Germany, which allows them to operate sailing motor boats or yachts. The country has
around 6,250 miles of waterways, which is expected to be one of the major factors driving
growth of the superyacht market during the forecast period.
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Global Superyacht Market Share By Region
North America is expected to hold the largest market share in the superyacht market followed by
Europe, while Asia Pacific is expected to witness the fastest growth during the forecast period.
Presence of large number of prominent boat manufacturers and boat maintenance & service
providers in North America and increasing demand of 40-80 meter sailing and motor superyachts
are some of the key factors driving growth of the market. In Asia Pacific, the highest growth can
be attributed to the increasing number of tourists from emerging economies of Asia Pacific such
as China and India.
The luxury superyacht market is characterized by the presence of well-diversified and
established boat builders in the North America and Europe. Boat builders engaged in custom and
semi-custom boat segments are planning to expand its regional footprint and product portfolio,
especially regarding its product quality, services, technology, and price. This competitive
environment among prominent superyacht manufactures such as Beretta yachts and Royal
Huisman is expected to intensify during the forecast period. Boat manufacturers are majorly