Boating Business

Fraser on Yachting and the Biggest Election Year in History

How will yachting fare as more than 64 countries and the European Union head to the polls in 2024?

Number of Yachts Sold by Size Segment in 2023

 (Editor’s Note: The range shown here in meters equates to feet like so: 24-30m = 79’-98’, 100 m = 328’.)

In his Column for YACHT STYLE Issue 76, Mark Duncan, Fraser’s Director of Marketing & Business Development, commented on the potential impact of this year’s elections throughout Europe on yachting.

“Few factors impact discretionary spending more than uncertainty,” Duncan wrote. “But if global charter and sales data trends show anything, it has to be the relatively light impact that elections and most macroeconomic factors have on overall client demand for quality time away from increasing noise. And yachting offers that more than anything else today.”

Number of Sales/Average Last Asking Price (EUR)

(Editor’s Note: the asking price range in millions of Euro’s shown on the chart currently equates to USD roughly like so: 2 million Euro’s = $2,174,000 USD, 16 million Euros = $17,391,000 USD.)

With sales of superyachts in 2023 finishing 33 per cent up on the average for the last 14 years and charter demand continuing to outpace pre-Covid numbers, far from declining, it seems the need to cocoon with loved ones and friends becomes even more precious.

“As we enter the world’s biggest election year ever, with perhaps the exception of the 24-30m (79’-98’) sector – the entry level to the superyacht arena – we anticipate a year of continued strong demand albeit with some insightful navigation,” Duncan concluded.