A good time for superyachts!

Martin Redmayne, president of Superyacht Group, is optimistic about the evolution of this market, he said during his speech at the Balearic Yacht Show.

"I am absolutely optimistic about the future of the superyacht industry for the simple reason that we have a higher profile today than we have had so far.” Martin Redmayne was very positive, in the first presentation of the Balearic Yacht Show, the first virtual boat show in the Balearic Islands. This online show takes place from today until Friday 20th November, where you can “virtually” meet over a hundred entities linked to the world of sailing.

The opening ceremony of the Balearic Yacht Show presented by the presidents of the Chamber of Commerce of Mallorca and the Balearic Marine Cluster, Antoni Mercant and Antoni Salom, was also attended by Juan Pedro Yllanes, vice president of the Government of the Balearic Islands, who highlighted the role of the Balearic Marine Cluster as a promoter of sailing in the Balearic Islands, a sector with a high degree of specialization and a high industrial component.

Juan Carlos Plaza, director of the Balearic Islands Port Authority, for his part, said that this virtual show will serve to unite efforts and demonstrate the strength of the marine industry.

An online show where you can find 360 tours of boats, a hundred companies in the marine industry with which to connect and conduct live meetings and more than 40 conferences related to the marine industry.

Redmayne, with the presentation entitled "State of the International Industry Report", has reviewed the figures of the yachts of more than 30 meters built over the last 30 years pointing out a "rising curve that places us in a key moment".

According to the numbers presented by Redmayne, since 1990 more than 4,400 superyachts have been built in the world and it is estimated that in 2030 there will be an active flora of 6,500 yachts of more than 30 meters. "This data make us think of a bright future, but we must make a change in how we present this sector and how we sell it," he said.

Seeing the evolution of the markets and the effect that the Covid-19 pandemic has had on them, Redmayne bets on "a very busy summer 2021 for the charter world" and says that "superyachts are becoming a safe bubble in which to enjoy a vacation away from cities or large resorts.

He has also highlighted that "the yachting industry has become interesting for large investors", who see long-term business opportunities and are beginning to understand this segment of sailing as more than just the construction of large boats. Redmayne sees a "bright future" in the reorientation of the industry towards after sales services and boat refits.

"Right now, whoever is remodelling their boat is doing it at the last minute, it would be interesting to show the owners the advantages of updating and caring for the boat on a regular basis, which would also help marinas and shipyards to organize themselves better and be able to offer better services".

To maintain the good growth forecasts of the sector, the president of Superyacht Group believes that it is crucial to "better educate our future buyers" as well as the workers of the industry, "workers who we have to take care of more and train better". Redmayne has also stressed the need to bet on a more sustainable and environmentally friendly industry. "A boat that spends a large amount of gasoline to sail at 30 knots is not attractive to the new generation of potential buyers, a generation more aware of the need to take care of our planet.

Even so, the Briton has recognized that "the industry is taking this issue very seriously" but has assured that "there is a lack of more transparency and of knowing how to show what is being done to make the world of the superyacht more sustainable".

Finally, Redmayne has urged the institutions to position themselves alongside the marine industries. "A superyacht is not the toy of a billionaire; we have to change that perspective and explain to governments that this industry has an added value".

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