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The global Yacht charter market was valued at US$ 10.91 Bn in 2019 witnessing a steady growth in the recent years.
However, with the onset of the COVID-19 pandemic, almost all operations in the yacht charter market were halted due to severe lockdown restrictions and lack of tourism. Thereby, the overall global yacht charter market witnessed a decline of about 85% in 2020, accounting to only US$ 1.63 Bn in terms of market value. However, with easing lockdown restrictions in most countries coupled with resumption of the overall tourism industry, the yacht charter market is expected to steady reach pre-COVID-19 levels by 2022. On account of the significant drop in 2020 and estimated quick recovery in 2021 and 2022, the global yacht charter market is expected to bounce back with a CAGR of 25.6% during the forecast period from 2020 to 2028.
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ResearchAndMarkets.com s offering.
The global Yacht charter market was valued at US$ 10.91 Bn in 2019 witnessing a steady growth in the recent years.
However, with the onset of the COVID-19 pandemic, almost all operations in the yacht charter market were halted due to severe lockdown restrictions and lack of tourism. Thereby, the overall global yacht charter market witnessed a decline of about 85% in 2020, accounting to only US$ 1.63 Bn in terms of market value. However, with easing lockdown restrictions in most countries coupled with resumption of the overall tourism industry, the yacht charter market is expected to steady reach pre-COVID-19 levels by 2022. On account of the significant drop in 2020 and estimated quick recovery in 2021 and 2022, the global yacht charter market is expected to bounce back with a CAGR of 25.6% during the forecast period from 2020 to 2028.
IBI Premium Content, by David Robinson2021-01-06T16:34:00
Difficult market conditions caused 24% drop in turnover to £16.63 million for UK yacht brokerage firm
In its fiscal year to December 31, 2019, the financial performance of Nigel Burgess Ltd, the lead UK-registered company of the Burgess Yachts brand and a subsidiary of Nigel Burgess SAM, reported a 24% in turnover to £16.63 million and moved from profit to a loss of…
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