Why the world's superyachts are getting bigger and bigger
Summary
The demand for superyachts, which are luxury privately-owned boats over 24 meters, is increasing, with larger yachts becoming more popular. The trend grew after the COVID-19 pandemic as wealthy individuals turned to these vessels for luxury and privacy. This year, while slightly fewer superyachts are being built or ordered, they are generally larger and more luxurious.Key Facts
- A superyacht is defined as a luxury yacht over 24 meters long and professionally crewed.
- Superyacht sales surged after the COVID-19 pandemic, with many wealthy individuals opting for them due to luxury hotels being closed.
- In 2023, 1,203 new superyachts were built or on order worldwide, a record high, but this number is expected to slightly decrease to 1,138 this year.
- Larger superyachts are on the rise, with 61 boats of 76 meters or more being produced this year, up from 55 last year.
- Superyachts often feature amenities like helipads, cinemas, and gyms to offer more luxury onboard.
- Italy builds about half of all superyachts, with its shipyards producing a total of 22 kilometers worth of yachts in a year.
- The cost of superyachts can range from €36 million for smaller models to €295 million for larger ones with additional features.
- Italian shipbuilders made a record €8.3 billion from superyacht production in 2023.
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