This is the eleventh economic report that SYBAss has prepared for its members. The first economic report was written in the middle of the economic crisis in 2009 to provide a deeper understanding of the state of the world economy and its impact on buyers of superyachts. Since then, this report provides an annual assessment of the global economic developments and their impact on the market for superyachts.
This economic report focuses on three main questions:
- How has the world economy developed and what is the short to medium-term outlook?
- How has the potential superyacht customer base, the ultrarich of the world, developed and what is the outlook?
- How has the market for superyachts developed, what is the outlook and how could we potentially influence that outlook?
These questions have been addressed by using leading market research of institutes like the IMF and OECD, sophisticated analysis using detailed background information from the Forbes billionaire list and the 2019 Global Wealth Report of the Boston Consulting Group and through specific in-depth analyses on ownership and launches of superyachts based on data provided by SuperYacht Times, complemented with interviews with leading superyacht designers and suppliers.
The report’s authors, former Boston Consulting Group analysts Erik Floor and Jasper Fonteijn, presented the highlights from the report at the SYBAss General Assembly in late September. In their presentation, they spoke of slowing global economic growth, noting that the lower order book for 2019 was reflective of the caution felt in the markets. Floor also noted that billionaire growth continued to outpace superyacht ownership, suggesting that the industry do more to appeal to new prospective buyers.
This report is produced exclusively for SYBAss members. SYBAss members can access the report through the Members Area.