The superyacht market – a superyacht is more than 24 metres long – is enjoying renewed buoyancy, according to Superyacht UK, which has reported the sector has picked up this year and will continue to do so next year.
This new research comes just after last week’s Monaco Yacht Show, one of the world’s major annual events in superyachting.
The superyacht business contracted by 2.2% in 2011-2012 but this year’s figures from Superyacht UK reveal a rise of 3.9% to £442m. In a similar turnaround, last year’s profits were 32% and profits this year are up to 40%, according to the survey of 138 companies in the superyacht industry.
This year, 43% of companies say order books are up on last year, when 169 superyachts were sold worldwide for an estimated £3bn.
The chairman of Superyacht UK, Albert Levy, whose company represents 210 members across the whole spectrum of the business, including yacht builders, designers and legal firms, argues that the improvement in turnover and profits is a sign of the “resilience and broad base of the superyacht sector in the UK”.
Not only are there bigger order books in 2013, but a greater optimism is prevailing, as seven out of ten businesses view future prospects as “good” or “excellent”, compared to only half businesses saying so in 2012.
According to the research, the biggest market for superyachts remains the US, followed by Russia and the Middle East.
Source: Daily Telegraph/Superyacht UK
