JANUARY - SEPTEMBER (Q1-Q3) 2024 OVERVIEW
The charter market experienced a slowdown in total number of weeks booked during the first three quarters of 2024. Reservations across all major destinations have recorded a decline for both Winter and Summer seasons, compared to the strong performance observed in 2023. Despite the reduced demand, the total number of charter yachts booked has remained consistent with last year. Nonetheless, booking patterns across key cruising locations are generally aligned with those observed in 2023.
The 2024 Summer season is anticipated to reach booking levels similar to 2021, with both the Eastern Mediterranean and Western Mediterranean trailing behind last summer’s figures. Greece continues to lead as the top yacht charter destination, holding the largest share of the market. The Western Mediterranean retains a stable booking market share compared to the previous year.
For the upcoming Winter charter season, bookings are being secured at a slower pace versus the same period last year. To date, 77% of bookings are in the Caribbean and The Bahamas, with a decrease in market share in The Bahamas versus last year. The South Pacific and Southeast Asia regions are showing healthy charter activity.
In this most recent edition of the CHARTER MARKET REPORT we provide a synopsis of the prevailing state of the charter market in 2024 year-to-date and an outlook for the upcoming Winter 2025 season. IYC is closely following the charter market and client trends, which are shaping the industry as a result of global events.