The Cannes Yachting Festival offers a telling snapshot of where the global yacht market is heading. This year's preview points to a modest rise in average yacht length and gross tonnage, with the 50-metre-plus segment making a return to the show. Cannes, though, is just one part of a much broader picture.
BBC research into why superyachts are getting bigger found that owners are increasingly seeking more space, greater privacy, and an expanded range of onboard lifestyle features. Helipads, cinemas, and expansive kitchens suited to fine dining at sea have all become common considerations. The report also identifies Covid as a catalyst, with many wealthy buyers coming to regard their yachts as "safe islands" during the pandemic and subsequently choosing to trade up in size.
The trend is far from confined to the Mediterranean. New Zealand is seeing the same pull. Earlier this year the Auckland Boat Show was the largest in its history, with over 1.3 kilometres of vessels on display. Rising demand for yachts in the 20 to 30 metre range was clearly in evidence, alongside strong interest in luxury charters and spacious catamarans, reinforcing the global shift toward larger boats as an extension of lifestyle.
The commercial figures support that picture. Azimut | Benetti has sailed past €1.5 billion in revenues and is carrying record order backlogs. Even against a softer market, the Italian giant is committing €115 million to infrastructure and actively expanding its presence across the Middle East and the Americas.
Yachts are getting bigger and more luxurious, and for a growing number of buyers they sit at the very centre of lifestyle and personal identity worldwide.
