During last month's Monaco Yacht Show, BBC World News visited Monte-Carlo to report on the ever-rebounding superyacht industry and interviewed experts including Boat International Media's own International Superyachts Editor Marilyn Mower, as seen in the video below.
BBC World's reporter Emma Jane Kirby surmises, 'The yachting industry is confident it's now on a surer footing.' This sentiment is echoed in interviews with industry insiders, such as Nicholas Edmiston, who says, 'We've certainly moved into calmer waters; there is a feeling of confidence in the market.'
Kirby takes viewers on a tour of the Monaco Yacht Show and shows off the toys on board of superyachts at the show, noting that today's yacht owners 'want submarines' when gesturing to the swim platform of Moonen's new launch 42m Sofia sporting her unusual submarine tender.
She then speaks at length with the knowledgable Marilyn Mower, who shares insights on the current state of the superyacht market (4:18 and 6:22 in video).
‘There’s a big difference to this comeback,' Mower says. 'It’s never going to be 2007 again where people were standing in line to give yacht builders cash to build them a boat. The owners today are much more value driven. And they are much more interested in getting the yacht that they want and not what will impress their neighbours necessariliy. We’re seeing more interst in family-size yachts, rather than corporate or palatial showpieces.'
Says Mower of the emergence and diversity of new markets, 'We’re seeing buyers from Brazil, we’re seeing buyers from Phuket, Thailand – one particular yacht builder has two projects underway for Thailand buyers right now. That was a market that didn’t exist before. Indonesia is strong, and China, of course, is an emerging market.'
For more on the current state of the superyacht market, read our September 2013 Market Report.