Superyacht sales are on the rise, coinciding with a growing number of billionaires able to splash out on the luxury cruisers, according to reports.
The superyacht industry has this year significantly outperformed “any of the last 12,” superyacht brokers Fraser Yachts told The Times, which first reported the news.
One possible reason for the rebound is the simultaneous rise in billionaires around the world, of which there are now 2,755 according to Forbe’s 2021 list – representing a jump of 660 compared to 2020.
The news follows a dry period for the sector at the start of the pandemic, during which time one billionaire – US business magnate David Geffen – sparked outrage after making a social media post about being isolated on his 450-foot, five-storey yacht – reportedly the 10th largest in the world.
Noticeably fewer posts made by elite yacht owners surfaced during the pandemic. But with the recovery, it seems billionaires have returned to the waters.
Chinese tech billionaire Jack Ma was spotted last month venturing out to Mallorca on his new 88m cruise boat, reported to be worth around $200m.
According to industry publication the Superyacht Group, sales of boats measuring more than 30m, rose eight per cent in the first nine months of 2021, compared with the same period in 2019, before the pandemic.
Over 200 superyachts, which can cost $600m brand new according to industry figures, were also launched in the nine months to September this year with orders for another 330, to be made by 2023, in the works.