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It could be well spent at this year’s Monaco Yacht Show.
Between April 15 to 18, Bloomberg ranked countries with the most superyachts within two miles of their coastlines. The U.S. topped the list with 158 (down from 162 from April 9-13, 2018) and Monaco ranked seventh with 41 yachts, up 59% from last year, although Spain and Greece saw the biggest gains, from 113 to 133 and from 62 to 82 respectively.
If the ratings were to track from September 25 to 28, Monaco would certainly cruise to the top of the listing with 125 superyachts in Port Hercules alone for the Monaco Yacht Show (MYS), plus the mega-vessels in town for the event.
In an interview with Le Petit Journal, Gaëlle Tallarida, managing director of MYS since 2010, commented, “Only a few years ago, our clientele was made up mostly of businessmen, about 60, nearing retirement who bought a yacht for pleasure because they had more time to devote to pleasure.
“Today, we see younger customers, between 35-40, who want everything very fast. But to own a custom yacht often takes 2 to 3 years. It's too long for them. They are in a different space-time, and have an interest in ecology that makes them prefer the rental to the purchase of yachts.”
Since 1991, MYS has evolved from an annual trade show geared to brokers and showcasing superyachts over 20 meters (66 ft) to the world’s most extraordinary yachting event, with craft averaging 49.5 meters LOA and a median price of €27 million.
More than 30,000 visitors—some paying between €280 (online) or €300 (onsite) for a day pass—will stop by the 580 exhibitors’ stands and eagerly ogle the line up that includes 42 new builds, eight 80-meter-plus and four 90- meter plus segments: the 111m Lürssen Tis, 90m Oceanco DreAMboat, 85m SilverYachts Bold and 83m Amels Here Comes the Sun.
The 40 Italian-built boats nearly outnumber the total combined exhibiting builders from other countries, although the Netherlands will showcase 22, while
Oceanco wins for most varied sizes on exhibit this year, from its smallest 51.8m and largest 90.0m.
A factor not found at any other boat show in the world, the combined value of yachts tops €3.5 billion and more than 50% of the yachts are less than two years old. And, in a bid to reach out to a new generation of younger boat owners, MYS continues to upgrade the superyacht lifestyle experience, which goes hand-in-hand with Monaco’s unrivalled image of extravagance. Tallarida, a SKEMA graduate, says one of the first questions for yacht charterers is “Which water toys are included?”
This year, 55 luxury tenders and water toys hope to tap into owners’ and charterers’ impulse purchases. The new inflatable FunAir Toy Island that can accommodate guests plus four Jet Skis, Jet Surf or SUPs and eFoils, like the Lift eFoil—also debuting at MYS—a battery-powered hydrofoiling surfboard controlled by a wireless bluetooth handheld remote allowing surfers to zip across the water up to 40km/h. Other must-sees include the 9.18-meter and limited edition Brabus Shadow 500 Black Ops tender, the carbon-fiber Red Shark Bike Board, and U-Boat Worx Super Yacht Sub 3, which lets you dive 300 meters with a top speed of three knots.
Tallarida also points out that while they are more potential yacht owners, the percentage is lower than it was 15 years ago. “To give potential customers a taste of the superyacht lifestyle experience, MYS continues to upgrade its product and in recent years, the Car Deck, the Tenders & Toys and Starboard lounge were added as exhibition areas.”
VIPs and yacht owners have a special section in the Upper Deck Lounge but for the ultimate VIP, the Sapphire Experience offers a full agenda of activities during the MYS—bespoke visits of superyachts, a dedicated concierge service and a VIP Lounge, access to evening cocktail receptions on board yachts or a personal invitation to the MYS Inaugural Gala on the eve of the show.
The year’s third Monaco Yacht Summit on Tuesday, September 24, will address Superyacht Insights, Charters, New Builds and Design to Delivery.
Monaco’s statistics bureau, IMSEE, reports yachting is now the country’s fourth largest sector, generating 5% of revenue (€750 million) and some 1,500 jobs. As a major economic player in the Principality, MYS will donate €50,000 to the Prince Albert II of Monaco Foundation, which it has supported since 2005, the same year it implemented selective sorting of waste during the show and 17 garbage containers are set up in the port.
Nancy Heslin Editor
Nancy (Wilson) Heslin is an established journalist and lifestyle writer. She has been the Editor-in-Chief of Forbes Monaco magazine (bimonthly in English) , since the magazine's 2nd issue . Launched in November 2018, Forbes Monaco is part of the Forbes family, with its 7 million readers and 71 million monthly website visitors worldwide.