Boats

This article has been written with Parents and Grandparents in mind.  If a young member of your family is seeking inspiration or direction as what to do in a gap year or maybe they are not inclined to go to university then a career in the super yacht industry could be the answer.

Career Prospects in the Luxury Yacht Industry

The financial crisis of the past few years has exposed the widening gap between the richest and the poorest in a way that has not been shown in the past .

What distinguishes the current recession is that the market of the very best luxury goods and the playthings of the rich has never been stronger.

Last year (2011) Rolls Royce enjoyed its best year ever, with sales to China exceeding those to the USA for the first time ever, but nowhere has this dichotomy been more noticeable that the rarefied world of luxury yachts which seems to be immune from the financial crisis gripping the world.

What has also changed is not just the increasing number of super yachts being built, but their size.  Super yachts have been superseded by mega yachts, and mega yachts by the new generation of giga yachts.

Here are some interesting statistics.  In 2009, one hundred and ninety four super-yachts were built; In 2010, two hundred and sixty two; and in 2012, one hundred and fifty one so far, but already this year by sales value, they have exceeded Euros 1.432 billion, which means slightly fewer but much larger yachts are being built.

Firstly, let us try and define a super, mega or giga yacht.  My interpretation would be that a super yacht is any vessel more than 100 ft long, and a mega yacht is any vessel over 300 ft long, but it is now quite common amongst the super rich to have yachts of over 400 ft (122 metres!), which are now being referred to as giga yachts.  This begs the question as to what comprises super-rich and mega rich, and I would define the former as having more than one billion, and less than £5 billion, and the latter as having more than £5 billion.

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Wednesday, October 17th, 2012