2022 and 5 years ahead will be quite profitable for the shipyards that build yachts. An increase in global wealth has created an explosion in demand and has sparked a building boom for superyachts.
According to Boat International’s 2022 Global Order Book, over 1,000 superyachts orders have been registered. This is an increase of almost 25% compared to 2020, where “only” a total of 821 superyachts were ordered.
Boat International writes: “More than 40 kilometers of superyachts will be built, launched and delivered between now and 2026, the result of unprecedented demand on shipyards.”
An overall reason for this demand in the industry is due the fact that cruise passengers have experienced many cancellations during the pandemic. Leading thereby the richest tourists to search for other alternatives from the crowds. Most demand is coming from the U.S. According to Forbes, the U.S. has 500 more billionaires than before the pandemic.
The cost of a superyacht can differ anywhere from $2 million to more than $500 million depending on its size, complexity, and materials.
However, the high demand for superyachts has created shortages of dock space, shipyards and skyrocket prices. Due to the demand, shipyards around the world are struggling with material procurement. Buyers may also expect delays in deliveries of completed superyachts, as shipyards are full.
Read more about the topic on Boat International: www.boatinternational.com/yacht-market-intelligence/
Article shared by courtesy of MARPRO Maritime Professionals: www.marpro.dk/