CHARTER
MARKET REPORT 2021 OVERVIEW
T H E I N T E R N AT I O N A L YA C H T C O M PA N Y
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CONTENTS
CONTENTS
4
EXECUTIVE SUMMARY
6
2021 GLOBAL CHARTER MARKET TRENDS OVERVIEW
8
GLOBAL BOOKINGS
10
WINTER SEASON 2021 CHARTER BOOKINGS
14
SUMMER SEASON 2021 CHARTER BOOKINGS
18
YACHTS IN FLEET
20
2022 CHARTER MARKET OUTLOOK
24
IYC RETAINS ITS LEADERSHIP POSITION IN THE CHARTER MARKET
26
THE IYC CHARTER FLEET EVOLUTION
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EXECUTIVE SUMMARY Following what can only be described as a wholly unusual 2020, the charter industry in 2021 reported a buoyant performance with robust activity in key cruising grounds on both sides of the Atlantic. Worldwide restrictions on travel saw superyachts singled out as a secure haven on which families could spend time on board while cruising in comfort and safety. Several of the patterns that emerged in 2020 remained in place shaping charter client behavior in 2021. The purpose of this report is to provide a synopsis of the prevailing state of the charter market in 2021 and an outlook for the upcoming charter season. IYC is closely following the charter market and client trends, which are shaping the industry as a result of global events. Irini Saranti Global Marketing Director
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2021 GLOBAL CHARTER MARKET TRENDS OVERVIEW CHARTERS CLOSER TO HOME With certain travel restrictions still in place and a remaining unease when it comes to travel, many charter clients looked into ‘alternative’ destinations that were closer to home and did not require transatlantic flights. As American clients account for over 50% of total charter bookings, US travel restrictions still impacted the Mediterranean market.
LAST MINUTE BOOKINGS The trend of booking last minute continued, with more than 70% of charters booked less than thirty days prior to the embarkation date. Historically, 60% of charters were booked between two and six months prior to the trip.
COVID-19 ADDENDUM The majority of charter contracts included a COVID-19 addendum designed to protect both the owners and charter clients in case of a required change of plans due to Covid.
RESCHEDULED BOOKINGS With several charters unable to take place in 2020 due to travel restrictions, the 2021 charter season started with several confirmed charters on the books. This was particularly apparent for the months of June and July in the Mediterranean (mainly in Greece and Italy).
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CHARTER CLIENT BOOKINGS BY NATIONALITY
3%
3%
7%
10%
NORTH AMERICAN EUROPEAN RUSSIAN
49% 10%
UK MIDDLE EASTERN SOUTH AMERICAN OTHER
19%
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GLOBAL BOOKINGS BY LOCATION OVERVIEW 2021 CRUISING TRAFFIC % OF TOTAL BOOKINGS BY LOCATION (ANNUALLY) ALASKA
PACIFIC NORTH WEST
Niche but growing charter market for the summer season.
NEW ENGLAND 2%
FLORIDA 1% Steady bookings year round with a year on year increase.
BAHAMAS 13% CARIBBEAN 7%
CENTRAL / SOUTH AMERICA 7% Winter destination with the highest number of bookings and a peak during the New Year’s period.
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MEDITERRANEAN The most popular destination for the summer season with the majority of bookings in Greece, France, Italy and Croatia.
CROATIA 9% FRANCE 16% BALEARICS 4%
MONTENEGRO 1%
ITALY 13%
TURKEY 6%
GREECE 17% MIDDLE EAST
MALDIVES 1%
SOUTHEAST ASIA
Winter destination with an
SOUTH PACIFIC
increase in demand driven by relaxed travel regulations.
AUSTRALIA 1%
REST OF WORLD 3%
NEW ZEALAND
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