The first international Experiential Yachting Forum was held last month at the Yacht Club Monaco, offering attendees an opportunity to learn the latest yachting industry insights while networking with key stakeholders.
But, what does experiential yachting mean? It simply means everything a yacht owner should enjoy onboard their vessel.
The inaugural event was organised by Maria Alekseenko Magan and moderated by Peter Economides of Felix BNI and Martin Redmayne of The Superyacht Group.
Here are six key takeaways from the International Experiential Yachting Forum 2022.
Experiential Yachting Forum insights
Yachting industry insights 1 – The destinations
According to data shared at the Experiential Yachting Forum, 95% of superyachts are used only in the Mediterranean, predominantly between St Tropez in France and Portofino, Italy.
New un-tapped destinations include The Antarctic, Australia and the islands of Papua New Guinea, but there are still very few vessels that travel there.
Yachting industry insights 2 – Yacht usage
According to yachting industry leaders, most yachts are used just 10% of the time.
“It’s the industry leaders’ responsibility to show the owner how to use the yacht better,” Economides said.
Matty Zadnikar from Seanet tackles this issue with a yacht share initiative. This enables owners a way to enjoy a different destination and itinerary while ensuring vessels are booked 80% of the time.
Yachting industry insights 3 – The new generation of yacht owners
The demographic of yacht owners is changing, and so too are the experiences they seek.
Millennials and Gen Z are pushing the boundaries of yachting, including naval architecture, enhanced onboard experiences, and the latest state-of-the-art technology.
The rise of explorer yachts has changed how owners experience yachting, opening up new destinations and experiences, such as swimming in arctic waters or getting up close to some of the world’s most majestic wildlife.
Yachting industry insights 4 – The changing needs of yacht owners
The pandemic has resulted in an unprecedented boom in the yachting industry. More people than ever before recognise the benefits of yachting and want to spend more time on the water, enjoying their yacht with loved ones.
According to industry experts at the Experiential Yachting Forum 2022, yacht design needs to evolve with owner’s changing desires. Living areas should offer larger workstations, study rooms, and playrooms for children. However, they also need to provide inspiration, escape, and adventure.
Yachting industry insights 5 – The latest technologies
The latest technology, such as Artificial Intelligence and 3D environments, can revolutionise an owner’s onboard experience and help shape the next generation of superyachts. This Experiential Yachting Forum insight was confirmed by yacht manufacturers, including shipyard representatives and naval architectures, who highlighted how millennial clients wish to have the latest technology built into the very fabric of the yacht.
For example, hyper-realistic 3D digital projections, which blur the lines between physical and virtual worlds, enable owners to change a yacht’s interior to suit their mood. From a stateroom that looks like a lush jungle or a saloon that mimics the look of an underwater lost city, the latest technology is limited only by an owner’s imagination.
Yachting industry insights 6 – Research and humanitarian efforts
The yachting industry should continue to utilise yachts as platforms for a positive impact and develop innovations that will help rethink experiential yachting.
Many explorer yachts are already assisting marine scientists by collecting data to help safeguard the health of the world’s oceans, with some boasting dedicated scientific research areas.
Other yachts have volunteered to assist humanitarian organisations and provided relief and assistance to victims of hurricanes.
As Martin Redmayne concluded: “We have to make yachting make sense again and ensure we exploit yachts to their fullest potential.” Relevance Yacht’s digital experts harness the latest industry trends and yachting industry insights to craft compelling digital marketing campaigns. As a specialist yacht marketing agency, we work with the biggest names in the yachting industry. Contact our team today to learn more about our portfolio of digital marketing services.