Summer 2024 is busier than usual in the Mediterranean, especially with the limited offer of crewed yacht charters. First-choice motor yachts report a 65% booking rate, while catamarans are up to 73% booked. The remaining dates are being snapped up fast.
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The team at MyGreekCharter is raising an alarm—if planning to wait until the last minute to book a charter, it might be too late.
“Unlike vacation rentals, the supply is virtually unlimited, and yachts are limited by available docking space in marinas. Having a yacht in a summer hotspot with docking space and charter rights is becoming increasingly more difficult,” says Daniel Asmus, owner of DMA Yachting.
For those yearning for a lavish summer getaway, the advice is to plan without delay, as the prime booking window is swiftly closing.
Key Market Trends for the 2024 Greek Yacht Charter Market
- The development of new marinas is progressing slowly, restricting the overall yacht capacity.
- Summer season kicks off almost 3 weeks earlier and ends 3 weeks later (April-October)
- Luxury tourism has grown 87% since Covid.
- The charter season is extending, starting in April this year, marking an earlier onset than in previous years.
Winter 2024/25 is filling up as well in the Caribbean
6 months earlier than in previous years, Caribbean charters are reporting 40% complete. The Caribbean, particularly the British Virgin Islands (BVI), is witnessing an uptrend similar to Greece. Mo Pristas from CharterGuru has reported unusually high bookings in the BVI, while Bahamas Motor Yachts reports a noticeably prolonged 2024 summer charter season.
The Average Value of Crewed Charters Has Been Growing
Motor yachts are at the forefront of this growth, with this yacht category experiencing a 30% increase in the average expenditure per charter since 2021. This increase reflects a robust demand and a shift in consumer preferences towards more luxurious and extended yacht charters.
An additional factor to the increase of the charter amount is simply the increased size and value of the available yachts, which have grown from a 70’ average to a 98’ average since 2021.
The Increasing Number of New Yachts Entering the Market Is Causing Concern About Industry Overload
The rate at which new yachts are being introduced into the market is accelerating. While older yachts aren’t being replaced but refurbished to extend service life, the overall number of yachts is rapidly increasing. This growth puts pressure on an already strained infrastructure, sparking debate among industry experts about the potential for overcrowding and its limits.
The available docking space nevertheless limits this increase in supply. Greece is reporting huge issues with marina availability as new developments are being delayed.
Charterers Are Looking for Less Crowded Charter Areas
The iconic Cyclades Islands continue attracting visitors for their historical and aesthetic appeal, but the hype has consequences, and tourists are looking to less crowded alternatives. Lesser-known destinations like Antiparos, Anafi, Ikaria, Kythira, and Nisiros are gaining traction as travelers seek quieter, more unique experiences away from mainstream tourist hotspots. Greece's diverse coastline, sailing conditions, and enormous charter fleet offer many charter options. A little research goes a long way, with an opportunity to explore more authentic and unspoiled destinations in Greece.
Contact Info:
Name: Mo Pristas
Email: Send Email
Organization: myGreekCharter operated by DMA Yachting
Address: Palma de Mallorca, Spain
Website: https://mygreekcharter.com
Release ID: 89126851
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