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Boat And Yacht Purchases Have Surged Since The COVID-19 Pandemic Began

After a difficult March, a surprising surge in boat and yacht purchases has occurred in the last few months. According to an article in Barrons, the summer of 2020 was an amazing year for boat and yacht manufacturers and dealers – sales of boats in May 2020 were up 59% compared to April of 2020.

Yacht sales (defined as boats over 33 feet in length) saw a jump nearly as high – with a 51% rise in May 2020 sales compared to sales in April of 2020, according to the latest numbers from the National Marine Manufacturers Association (NMMA).

What’s Driving The Surge In Boat And Yacht Purchases? 

So, yacht and boat sales are surging – which is great news for our yacht transport service in Florida! But why are boats and yachts being sold at such a high rate?

Nobody can say for certain, but we’ve got a few theories about why boating is becoming more popular.

  • Reduced monthly expenses – Many people are still avoiding things like going to bars and restaurants, attending concerts, going to sporting events, and other such activities. This means that money that would have been spent on recreation is now just sitting in bank accounts – and some people may be looking for a new opportunity to spend that money, and invest in the boat or yacht they have always wanted.
  • Rise in virtual boat rentals – A boat or a yacht is not necessarily only an expense, thanks to virtual boat rental platforms like GetMyBoat. Similar to the property rental platform Airbnb or the car rental platform Turo, this platform allows boat owners to rent out their boats, yachts, and personal watercraft using a simple, app-based platform. Boat owners who may not use their boats frequently now have the option to make some extra cash to cover their expenses by renting out their vessels – making boat or yacht ownership more financially viable.
  • Canceled trips and vacations – Many people have had to cancel travel plans and vacations due to COVID-19 and its travel restrictions. This could be a contributing factor to increased boat sales, and has definitely resulted in more yacht charters – those who have the cash to rent a yacht for an extended trip can enjoy rest and relaxation in exotic locals – all while maintaining their distance from others and staying safe onboard their vessels.
  • Social distancing – The need to maintain distance makes it hard to do a lot of traditional recreational activities like sports – but water-based recreation allows for plenty of distance between families and other groups of people. It’s likely that social distancing requirements caused by COVID-19 have added to the surge of boat and yacht sales in 2020.

It’s A Good Time To Own A Boat Or Yacht – And We’re Here To Help! 

As the leading yacht transport service in North America, Cross Chartering Yacht Transport is here to help new yacht owners get the services they need to ship their yachts – either within the US, or anywhere in the world.

So if you are the proud new owner of a yacht and need to ship it to any destination worldwide, don’t wait – contact us online or give us a call at +1 (954) 686-6902 to discuss your project with us, and get the assistance you need right away.