Greece, long known for its dominant merchant fleet, is carving a new path to economic glory – the booming world of yacht charters. Our nation has become a top destination, particularly for luxury vessels.
Records are shattering in this sector, with charters for luxury yachts exceeding 14,000 in both 2022 and 2023 (over 20 meters in length). This dominance extends beyond Greece, leading the entire Mediterranean market.
Experts predicted this surge. Antonis Stelliatos, President of the Greek Tourism Boat Owners Union, declared 2023 "a record-breaking year" due to 100% occupancy. He foresaw a new era for yachting in Greece, including sailboats and catamarans.
Data confirms this vision. Yachtfolio.com, processed by Riginos, a yachting industry leader, reveals that 2022 saw a record 7,200+ luxury yacht rentals (over 20 meters) in Greece and the Mediterranean, with 2023 maintaining similar levels at 7,100 rentals. These figures crown Greece as the global leader in this sector, boasting a remarkable 26% market share.
Beyond a Passing Trend
The data from the past two years paints a clear picture of significant growth. The rise is undeniable compared to 2020's 2,350 rentals and 2021's 5,800. This surge positions Greece at the top of global yacht charter preferences, surpassing France and Italy (both at 17% share).
The pandemic undeniably played a role. Social distancing measures led high-income tourists to seek alternatives to hotels. Luxury yacht rentals, often with crews, provided the perfect solution: privacy, flexibility, and the freedom to explore the stunning Greek islands while enjoying hotel-like amenities.
A Booming Industry Benefits Clients
This growth has revitalized the market, with increased demand leading to more vessels entering service. Competition benefits clients, driving down average charter fees. From 2019's 1,600 to 2023's 2,100+ vessels available globally, the options have grown significantly.
Greece boasts around 400 vessels (up to 95 meters) operating in its waters, ranking third in the Mediterranean behind Italy (450) and France (430). While newer vessels (built since 2013) represent 27.5% of the Greek fleet, this lags behind France (46%), Croatia (43%), and Italy (42%).
Prime Destination for Global Clientele
Germany, France, Spain, and Australia are the main markets for Greek yacht charters, with the bulk of clients coming from the US and UK. Greece's 6,000 islands and the longest Mediterranean coastline add to its allure.
Riginos charter consultant Konstantinos Angelopoulos confirms Greece's dominance: "In 2023, Greece remained the top preference for charters in the entire Mediterranean, with a 31% share – a 2% increase from 2022. France follows with 20%, and Italy with 19%." He highlights Greece's advantages: lower VAT on charters and duty-free fuel compared to competitors.
So, if you're seeking an unforgettable luxury escape, set sail for Greece – the undisputed leader in global yacht charters!
