Allied Market Research report predicts huge growth for Yacht Charter

Tuesday, January 9, 2024

Allied Market Research recently issued a report with the title – Yacht Charter Market by Type, Size, Medium, large, and Application: Global Opportunity Analysis and Industry Forecast, 2023–2032. As per this report, the international yacht charter market size in 2022 was valued at $ 11405.2 million and by 2032 is expected to reach $ 20202.5 million, creating a record of CAGR of 6.9% from 2023 to 2032.

Market expansion is being influenced by several factors like development of activities related to water sports and recreation and growth in the number of private islands on cruise routes. But the high cost that is related to yacht charter and the concerns regarding weather and safety might hinder market growth. Furthermore, increased participation of mediators & hybrid business models and a shift in the infrastructure of yacht are anticipated to create opportunities for growing the market during the forecast period.

The small segment, by size, in 2022, held the highest market share, accounting for over two-fifth of worldwide yacht charter revenue and is predicted to preserve its leadership status all through the forecast period. This section from 2023 to 2032 is likely to manifest the highest CAGR of 7.3%, owing to the water sports interest.

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