Superyacht industry accounts for $22 billion globally according to new report
The superyacht industry accounts for $22 billion globally according to “The State of Wealth, Luxury and Yachting 2016” report released by marketing consultant Wealth-X and superyacht sales and charter company Camper & Nicholsons addressing the habits of the world’s ultra-wealthy.
The report focuses on the rapidly changing face of luxury, with a new, younger generation of ultra-high net worth individuals that use services within the superyacht sector. Wealth-X analysed data from 211,275 of the world’s top-tier individuals – defined as those with a minimum net worth of $30 million.
The report uncovered that the average value of a superyacht is $10 million and this offers a rarefied form of exclusivity with only 4,476 people globally actually owning one. The top countries for superyacht ownership are the United States (33%), United Kingdom (11%), Italy (5%), Australia (4%) and Russia (3%). Such individuals are an estimated 88% of the share of the luxury market for yachts, with an annual spend of $22 billion.
Mykolas Rambus, chief executive of Wealth-X, said: “With an average price tag of US$10 million, the superyacht is a luxury item owned and enjoyed by the ultra-wealthy. This report identifies the convergence of this segment’s desire for privacy as well as their seeking of new and unique experiences in their travel.”
Paolo Casani, president of Camper & Nicholsons International, added: “The landmark study on the state of wealth, luxury and yachting shows the superyacht industry in a different light from the usual statistic reports; instead it sheds light on how the shifting sands of wealth and luxury affect trends in yachting – something that has never been reported on before.”
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