Currently, the yacht charter market is predicted to register a CAGR of about 4% during the forecast period (2020 - 2025).On a global level, the yacht charter market size had shown value of USD 6.5 billion in 2019. It is being expected to grow at a compound annual growth rate (CAGR) of 5.2% from 2020 to 2027.
Yacht chartering in India
India being a peninsula has a lot of scope for any water activity. Places like Mumbai, Goa, Kolkata, Kerala, Daman and Diu, Chennai and the Andaman and Nicobar islands are known to be the best places where one can experience a sailing tour on the Bay of Bengal, the Arabian Sea and the Indian Ocean.
Yacht tourism, also commonly known as ‘yacht chartering’, had started to generate interest in India in the past few years. Just when renting a yacht for a vacation with family and friends was becoming common, Covid-19 started and it came to an abrupt stop. Because of lockdown restrictions and other measures like social distancing implemented all across the country, yachting numbers went down.
However, once lockdown eased, yacht chartering saw a sudden rise in demand. Most of it can be attributed to the fact that entertainment avenues on land were lacking due to the pandemic. Yachting services bookings became three times more than that before lockdown period. People really started appreciating nature and outdoors after spending the year home-bound for several months.
Here is Thrillophilia’s analytics on user behaviour on our pages that are selling yacht chartering services:
As you can see, while 2020 showed a low amount of interest, 2021 had started off with people getting increasingly interested in yacht chartering. Not only that, but we have also seen a significantly low amount of bounce rate in these pages.
Now that a second wave of COVID-19 has caused another strict lockdown, those who were gearing up for yacht chartering suddenly saw their plans being foiled.
Therefore, once this lockdown is lifted, we are expecting to see a huge spike in our yachting packages.
Yacht chartering packages that we would recommend our travel partners to curate for post-pandemic:
From our analytics, these are the three kinds of packages that have seen the maximum numbers of visitors in the past few months:
1. Yacht chartering in Goa: Goa has always been one of the most visited places for the Indian youth and post-lockdown, it is going to keep being so, especially for those interested in yacht chartering. Our pages like Exciting yacht charter experience in Goa, Yacht in Goa and private yacht in Goa have generated a lot of interest.
2. Yacht chartering in Mumbai: For those interested in yacht chartering, Mumbai has also been a common attraction. Our pages like luxury yacht charter in Mumbai and Rent a Yacht in Mumbai have received special attention. Since Maharashtra’s COVID-19 situation is very well controlled currently, it is expected that their restrictions will loosen up soon and our yacht chartering packages of Mumbai will see good numbers.
3. Yacht chartering in Chennai: Our pages Private group yacht charter in Chennai and Party yacht Experience in Chennai have also seen quite a number of visitors which means these packages are likely to be purchased once restrictions are lifted in Tamil Nadu.
With organizations putting in more investments in yacht chartering all over the world, Indians are going to soon adopt yachting as a go to for weekend vacations and partying. As travel companies, we believe, we should put in the same amount of interest in advertising yacht chartering.