Over the last few years, the global yacht industry has been static with regards to designer and development trends. However, new trends and developments for 2024 have already begun to show that the industry is dramatically about to change. We report on the four major yacht trends for 2024 and beyond.
The Yacht for “Events” Trend
The biggest change to the yacht industry that started this year is the trend of owners beginning to make use of their yachts beyond chartering. Owners have begun hiring out their yachts for non-yacht related events. Events such as weddings, business meetings, parties, and corporate marketing functions are now being used to cover and maintain yacht costs. This trend may indicate that yachting agents will soon be tasked with event booking rather than chartering.
The Yacht Charter “Cost” Trend
Yacht chartering for 2024 has already started to show that the global-cost-of-living-crisis is having effects in the yachting industry. Individually paid charters are dramatically down, with a new trend developing referred to as “shared chartering”. Shared chartering are yacht charters paid for by multiple people rather than a single individual. These could be multiple family members and/ or groups of friends making multiple payments to agencies and brokers.
The Yacht for “Remote Work” Trend
2024 Yacht builds have already begun. A new designer trend that has developed is the design of a dedicated private room specifically for office and workspace. These offices are to be used specifically for office work and onboard meeting rooms. High-speed internet and Wi-Fi now allow clients to conduct business and video calls almost anywhere at sea. This result is now a new trend to have a dedicated space to be able to constantly work remotely.
The Yacht with “Electric” Water Toys Trend
Water toys on yachts have always been a big feature. However, this year the focus on water toys is electric. The yacht industry is trying to be more green and yacht owners are keen to show their support for the environment. Surfboards, seabobs, jet skis, and bikes are all capable of being electric and are all making the list of must have toys for this yachting season and beyond.
This years’ yacht trends have already shown that the yacht industry is not as static as once thought. The effects of cost and work requirements are already dramatically impacting the industry. These trends will have long lasting impact well beyond 2024.
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