Yacht Charter Market

Yacht Charter Market Size and Share:

The global yacht charter market size was valued at USD 9.11 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 16.82 Billion by 2033, exhibiting a CAGR of 6.69% during 2025-2033. Europe currently dominates the market, holding a significant market share of over 44.3% in 2024. The market is experiencing significant growth driven by rising disposable incomes, increasing tourism activities and demand for luxury travel experiences. Trends include the adoption of eco-friendly yachts and technological advancements enhancing customer experiences.

The key drivers of the yacht charter market include increased disposable incomes and the rising trend of luxury travel experiences. There is a demand for customized travel itineraries and exclusive destinations and developments in yacht technology which improve comfort and efficiency. The yacht charter market share is projected to increase significantly due to the rising demand for luxury travel. There is also an increasing interest in sustainable tourism with many people opting for eco-friendly yachts. The ease of digital platforms has streamlined the booking process thereby opening up the market to more consumers and attracting the younger generation to such unique leisure experiences. For instance, in December 2023, the Greek government launched the “e-Charter Permission” platform facilitating the digital application for charter permissions for foreign-flagged yachts over 35m. This initiative aims to boost marine tourism, create local jobs and enhance Greece’s appeal as a yachting destination while ensuring regulatory compliance. These factors are creating a positive yacht charter market outlook driving the demand for affordable, versatile and client-friendly charter options.

The key drivers of the United States yacht charter market include the growing preference for personalized luxury travel mainly among high-net-worth individuals. Coastal tourism hotspots, such as Florida and California contribute significantly due to favorable weather and a well-developed marina infrastructure. The growth in recreational boating driven by rising disposable incomes and lifestyle shifts post-pandemic further fuels demand. According to the report published by the Bureau of Economic Analysis, in August 2024, personal income increased by $50.5 billion (0.2%) while disposable personal income witnessed a rise by $34.2 billion (0.2%). Personal outlays grew by $48.3 billion (0.2%) and consumer spending rose by $47.2 billion (0.2%). Advancements in yacht technology along with the push toward eco-friendly charters are also in line with consumer preferences thereby making the market more appealing.

Yacht Charter Market Trends:

Rising Disposable Income and Affluent Consumers

The growing global wealth, particularly of high-net-worth individuals, has created a demand for luxury experiences such as yacht charters. Consumers seeking luxury vacations are increasingly ready to invest in exclusive, private, and customized vacations. A yacht charter is an ideal solution that offers a unique, personalized, and lavish experience according to the tastes of individual clients. Global HNWI wealth rose by 4.7% in 2023 to USD 86.8 Trillion, according to industry reports. Such growing HNWI wealth will drive demand for luxury travel experiences, which will expand the yacht charter market further because more people want indulgent and unique options for vacations.

Increase in Tourism and Travel Preferences

This has been highly significant for the expansion of the yacht charter market with experiential travel. Nowadays, travelers, desirous of unique and personalized holiday experiences, prefer yacht charters over staying at traditional hotels or embarking on cruises, making it their favorite options. Yacht charters, given their added personal privacy and more personalized trip schedules, remain favorites among the well-heeled tourist group. As UN Tourism reported, international tourism during the first nine months of 2024 achieved 1.1 billion travelers, recovering to 98% of pre-pandemic levels for the global tourism sector. Such a recovery in global tourism leads to more demand for luxury and exclusive travel experiences that also fuels growth in the yacht charter market as tourists now prefer more individualized, exclusive vacation.

Advancements in Yacht Technology and Sustainability

Sustainable travel and the resulting emphasis on eco-friendly solutions have played a key role in the growth of the yacht charter market. This development of greener, energy-saving yachts, including those to be hybrid and fully electric, has attracted environmentally conscious consumers in the pursuit of luxury-sustainable experiences. These are new times for travelers who prefer sustainability without necessarily compromising on luxury. According to AARP 2021 Travel Trends, approximately 54% of baby boomers in the U.S. planned to travel in 2021, with an average spending of USD 6,691, which is 20% to 50% more than their Gen X or millennial counterparts. The desire of this affluent demographic to spend on high-end, exclusive travel experiences, combined with the increasing demand for environmentally friendly options, is fueling the growth in the yacht charter market as more consumers seek sustainable yet luxurious vacation alternatives.

Yacht Charter Industry Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global yacht charter market report, along with forecasts at the global, regional and country level from 2025-2033. Our report has categorized the market based on type, length, and contract type.

Analysis by Type:

• Motor Yacht
• Sailing Yacht

Motor yacht leads the market with around 86.6% of market share in 2024. Motor yachts dominate the yacht charter market because of their versatility, speed and luxurious amenities. They are equipped with advanced navigation systems, spacious accommodations and modern entertainment features that appeal to both leisure and corporate clients. They can cover long distances quickly making them perfect for visiting several destinations within a short period of time. They also cater to a wide range of budgets from mid-range charters to ultra-luxury options.

 Analysis by Length:

• Up To 20 Ft
• 20 To 50 Ft
• Above 50 Ft

20 to 50 ft leads the market with around 64.5% of market share in 2024. Yachts measuring 20 to 50 feet dominate the charter market because they are affordable, accessible and meet the needs of most clients. They are highly preferred by families and small groups who want private and manageable charters. They are easy to maneuver in marinas and coastal areas and their size is ideal for short trips and visiting secluded destinations. These yachts are usually fitted with standard amenities providing balance between comfort and price.

Analysis by Contract Type:

• Bareboat Charter
• Crewed Charter

Crewed leads the market with around 82.2% of market share in 2024. Crewed charters lead the yacht charter market by contract type due to their emphasis on premium and hassle-free experiences. Such charters are crewed with professional people including professional captains and chefs capable of navigating, running the operations and delivering proper hospitality onboard so that guests can truly relax and have their trip. They are more in demand by clients who want luxury and personalized services-from custom itineraries to gourmet dinners. Expert crews available for these charters provide added safety making it suitable for seasoned and first-time travelers alike. Increasing demand for luxurious and premium leisure travel options crewed charters continue to be the primary choice for consumers across all regions.

Regional Analysis:

• North America 
  • United States 
  • Canada 
• Europe 
  • Germany 
  • France 
  • United Kingdom 
  • Italy 
  • Spain
  • Russia
  • Others 
• Asia Pacific 
  • China 
  • Japan 
  • India 
  • South Korea 
  • Australia 
  • Indonesia 
  • Others 
• Latin America 
  • Brazil 
  • Mexico 
  • Others 
• Middle East and Africa

In 2024, Europe accounted for the largest market share of over 44.3%. Europe holds the largest share in the yacht charter market driven by its extensive coastline, diverse destinations and well-developed maritime infrastructure. Popular regions such as the Mediterranean including Italy, Greece, Spain and France attract travelers with their scenic beauty, cultural richness and favorable climate. The presence of luxury marinas and world-class facilities supports the yacht charter market demand. Europe's status as a hub for high-net-worth individuals boosts the market with clients seeking premium experiences. The region also benefits from established charter companies and an increasing focus on sustainable tourism further enhancing its appeal in the global yacht charter industry.

Key Regional Takeaways:
 

North America Yacht Charter Market Analysis

North America’s yacht charter market benefits from a robust infrastructure diverse coastline, and a growing preference for luxury recreational activities. The region offers a variety of charter experiences from exploring the scenic waterways of the Pacific Northwest to enjoying the vibrant coastal hubs of Florida and California. Increased interest in outdoor leisure and water-based activities is driving demand with travelers seeking personalized and unique experiences. Enhanced marina facilities and growing awareness of yacht charters as an exclusive travel option position North America as a key player in the global market catering to both domestic and international clientele.

United States Yacht Charter Market Analysis

In 2024, the United States captured 80.00% of revenue in the North American market. In January 2023, the U.S. Department of Transportation's Federal Transit Administration (FTA) allocated USD 384.4 million in federal funding, through President Biden's Bipartisan Infrastructure Law, to enhance and expand marine services in local communities. This investment is expected to improve infrastructure and enhance access to water-based recreational activities, thereby indirectly supporting the yacht charter market growth. Further, according to the Outdoor Industry Association, the U.S. outdoor recreation participant base grew by 2.3% in 2022, reaching a record 168.1 Million participants, which represents 55% of the country's population aged six and older. This uptick in outdoor activity participation underlines a greater interest in water-based leisure activities, further increasing demand for yacht charters. The improvement of infrastructure and rising number of people participating in outdoor recreation will offer a conducive ground for the growing of the yachting charter market in the United States.

Asia Pacific Yacht Charter Market Analysis

In December 2022, Riviera Australia Pty. Ltd. introduced the 46 Sports Motor Yacht in the Australian market. During the production, luxury features like capacity for six adults sleeping on board, 500 liters of fresh-water tank, and 151 liters of holding tank are designed for more comfort during yacht charters. This launch signifies an upward trend in the Asia Pacific region as interest in high-end yachts grows, the same as the demand for luxury experiences. Additionally, during the fourth quarter of 2023, China experienced about 1.22 billion domestic tourist trips, which was reportedly much higher than that for the same period of 2022, according to industry sources. This boom in domestic tourism in China is creating a huge demand for yacht charters, especially in coastal areas and tourist hotspots. More affluent travelers seeking exclusive and personalized experiences, in combination with the growth in domestic tourism brought about by new yacht offerings, is likely to spur further growth in the Asia Pacific yacht charter market.

Latin America Yacht Charter Market Analysis

According to industry reports, from January to October 2024, an estimated 5.4 million foreign tourists visited Latin America. The figure marked a 13% increase in the comparison period of 2023, reports say. International tourism will continue to drive demand for the increasing market for yacht charters as these tourists search for an exclusive, personal experience in the lush coastlines of the region. The increasing luxury and adventure seeker from affluent travels is likely to lead to demand in yacht charter, especially across popular destinations that include the Caribbean, Mexico, and Brazil. A further expansion and recovery of the tourism sector will see a high flow of tourists visiting Latin America, thereby driving its yacht charter markets, as well as international guests visiting the destination due to their pristine waters and natural beauty. With a sudden rise in tourism, combined with a trend for luxury travel, Latin America becomes one of the significant growth markets for yacht charter.

Middle East and Africa Yacht Charter Market Analysis

The UAE’s travel and tourism sector contributed nearly AED 167 Billion (USD 45 Billion) to the nation’s GDP in 2022, accounting for 9% of the total, according to the Ministry of Economy (MOEC). The hotel industry in the country also expanded, with 1,189 hotels and a total of 203,000 hotel rooms available, reflecting the expanding tourism infrastructure. One of the results of tourism is that it fuels demand for expensive travel experiences, such as yacht charters. Affluent tourists are opting for unique, customized tourist experiences. Because of this, the yacht charter market is expected to expand along with more international tourists coming into the UAE and other Middle Eastern destinations. The regional favorable coastal locations and luxurious offerings make the region a high-demand place for yacht charters, and the number of hotels and tourists is growing to support demand in that aspect. As the Middle East continues to be a prime hub for luxury tourism, the yacht charter market is expected to benefit from the whole travel and hospitality sector growing in the region.

Competitive Landscape:

The yacht charter market is characterized by intense competition driven by the presence of established companies and emerging players offering diverse services. Market participants are focusing on enhancing their fleet capabilities, incorporating advanced technologies and providing luxurious and personalized experiences to attract high-net-worth clients. Sustainability is becoming a critical factor with companies introducing ecofriendly yachts and sustainable operations to meet evolving consumer preferences. Digital platforms are also transforming the industry by simplifying booking processes and offering tailored packages. Partnerships with tourism boards and local service providers are further strengthening market presence. As consumer demand for exclusive travel options grows competitors are leveraging innovation, premium offerings and exceptional customer service to differentiate themselves and capture a larger market share.

The report provides a comprehensive analysis of the competitive landscape in the yacht charter market with detailed profiles of all major companies, including:

• Boat International Media Ltd
• Boatsetter Inc.
• Kiriacoulis Mediterranean
• MarineMax Inc
• Martello Yachting & Company
• Nautal (Click&Boat)
• OceanBlue Logistics Limited
• Sunsail Limited (TUI Group)
• Sunseeker International Ltd.
• The Moorings
• YACHTICO INC
•  Zizooboats GmbH

Recent Developments:

• December 2024: Burgess Yachts introduced six exceptional yachts set to be available for charter in 2025, further elevating the luxury yacht charter market. Highlights include the extravagant 112m RENAISSANCE, which accommodates up to 36 guests, and the stylish 49.9m ASANI, known for its luxurious features and expansive outdoor spaces. Each yacht offers tailor-made experiences, catering to a range of preferences from adventurous to tranquil getaways.
• October 2024: Camper & Nicholsons International launched an exclusive loyalty program for returning clients and revealed collaborations with prestigious luxury hotels, offering special yacht and accommodation packages to enhance the charter experience.
• September 2023: IYC opened a new office in Dubai, reinforcing its position in the luxury yacht charter market. This expansion caters to the increasing demand for yacht charters in the region, offering clients bespoke services and access to a wide range of yachts. The Dubai office will act as a central hub for both local and international customers seeking top-tier yacht charter experiences.

Yacht Charter Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the yacht charter market from 2019-2033.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global yacht charter market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the yacht charter industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.