18th La Belle Class Superyachts Business Symposium spotlights economic transformation of yachting

The 18th annual La Belle Class Superyachts Business Symposium returned to the Yacht Club de Monaco last week, bringing together key figures from across the international yachting industry to discuss changes and challenges within the sector.

This year's edition, organised in collaboration with UBS, explored the significant economic changes that are expected to shape the sector by 2035, within the theme “Yachting 2035: the economic transformation of the sector in response to new environmental standards”. 

The evening event, which sits within the Monaco, Capital of Advanced Yachting initiative, concluded that new environmental standards in the sector have become key in shaping the economic model of the yachting industry. The Symposium offered a forward-looking analysis of structural changes across the industry, with discussions – against a backdrop of accelerating demographic, geopolitical, technological and financial shifts – emphasising the sector's need to anticipate changes that are now firmly rooted in its long term environment.

"Yachting is part of an economic, environmental and human ecosystem that requires a collective, long-term vision," said Bernard d’Alessandri, Yacht Club de Monaco’s managing director and general secretary. "With close to one hundred participants, this symposium is a unique platform where all stakeholders across the yachting value chain can come together, exchange ideas, and collectively drive the sector forward."

With the global economic impact of yachting standing within the billions, the event highlighted that the sector is at a turning point of preserving "value creation" while integrating increasingly rigorous environmental requirements.

"Environmental standards and sustainability challenges enable us to develop a new strategy that allows us to grow our business while protecting the environment for future generations. We may go faster alone, but together we can go further,” added Christophe Madrolle, regional councillor of Provence-Alpes-Côte d’Azur (Région Sud) and member of the Standing Committee and the Biodiversity, Sea, Coastline, Regional Natural Parks and Risk Commission.

Discussions during the evening included a presentation by Maximilian Kunkel, chief investment officer at UBS, who offered a macroeconomic and geopolitical perspective of the sector. The CIO shared analysis around five long-term forces which are all reshaping global economic balances, comprising demographics, deglobalisation, decarbonisation, digitalisation and debt. “Everything is changing: our way of working, where we work, what we do and how we consume,” Kunkel noted. "It is still possible to be optimistic about economic prospects over the coming years, even in 2026, provided the various developments linked to the five Ds are taken into account."

Into the evening, Dr Nathalie Hilmi, an expert in macroeconomics, international finance and sustainable development, provided insight into the evolution of European and international regulatory frameworks. She stressed: "Environmental regulation is no longer a future concern or a recurring professional issue. It is now a structural economic driver. Emissions are no longer an external cost; they are becoming a financial liability that directly affects operating margins."

Commenting on the strategic challenge of adapting to these environmental standards, Txema Rubio, commercial director of MB92 Group, added: "Yachting in 2035 will be shaped as much by how we upgrade the existing fleet as by what we build next. Investing in a yacht’s environmental footprint through refit helps protect long-term value while meeting rising standards and evolving owner expectations."

Finally, discussions centred around the ability of the sector to absorb sustainability-related costs and transform them into value. Marnix Hoekstra, co-creative director and partner at Vripack, shared how the environmental transition in yachting is predominantly a design challenge: “I believe that sustainability and environmental protection represent the greatest design challenges of our generation. I don’t see this as a political dilemma or a social issue.” Hoekstra emphasised the importance of integrating sustainability from the earliest design phase and highlighted Project Zero – the “zero emissions” monohull powered by thermal, solar and wind energy, which is currently in build at Vitters – as an example. 

With its high levels of nautical activities and tighter requirements, the Principality of Monaco remains indicative of the tangible impact of new environmental standards in the sector, while also establishing the country as a "testing ground" for more sustainable yachting.

To continue the momentum, the Monaco Capital of Advanced Yachting Rendezvous will commence on 21 March and will run until 24 March 2026.