In 2018, the principality’s famous yacht show will be younger, fresher and more fun as a new demographic of billionaires explores the world of superyachts. In the run-up to the event, Riviera Insider interviewed the Yacht Show's visionary & long-standing managing director, Gaëlle Tallarida to find out more about the changing industry.
Riviera Insider: Today’s millionaires and billionaires are younger than ever before. What influence are these young buyers having on the superyacht market?
Gaëlle Tallarida: Young buyers want to feel and share their experiences with a yacht. In short, they want to be more connected to the sea. The design of superyachts is changing: wider windows, larger ‘beach club’ areas and lounges onboard to enjoy life with friends and family. The boom of luxury tenders and water toys is also a result of this new way of experiencing yachting, but this trend also comes with a complete respect of the sea and an awareness of environmental issues.
RI: Is it true that trends are moving away from buying one’s own superyacht to chartering a luxury yacht whenever needed? What does this mean for the Monaco Yacht Show?
GT: The new clients indeed prefer ‘experiences’ on board yachts and switch from a charter in the Med to a charter in Antarctica, for instance. They want to enjoy a mix of the comfort of a five-star hotel with the adventure of new places. It is a young generation on the move! Charter has always been the first step to ownership and it mainly still is. These younger clients are building their yachting education. I believe that the more they charter, the better they’ll be able to conceive the perfect yacht they’d like to own [in the future].
As for the MYS, we have developed solutions to welcome these new clients and connect them to the most respectful yachting experts – brokers and shipyards – to enhance their superyacht experience, either for a new charter or a first ownership.
RI: Anglophone, Russian, Middle Eastern... These have long been the principle yacht-buying nationalities. Are you seeing any new additions to the pool?
GT: US clients still remain the biggest yacht buyers in terms of numbers, with Russians and Middle Easterners close behind. Buyers from Hong-Kong are active as well and have doubled to represent 4% in the past 12 months (compared to 2% between 2013 and 2017).
RI: ‘Green yachting’ is a term we often hear about these days. Have there been any notable developments in the industry that are making it more ecologically-minded?
GT: We have been partnered with RINA for over a decade, an Italian company that certify the ‘green construction’ of a yacht according to a detailed technical sheet. RINA aims at promoting and developing eco-design solutions in superyacht building; an approach to designing products that are easy to maintain, easy to repair, easy to modernise, and easy to rebuild or recycle. RINA has gained long-running experience in eco-design for the yachting industry, which will definitely pave the way to a new generation of greener and more sustainable yachts. Every year, the greenest superyacht exhibited at the MYS receives the MYS/RINA Superyacht Award at the show.
RI: At its base, the MYS is a trade event for industry professionals, but it also appeals to the general public.
GT: Our aim is to do everything possible to offer participants the ideal market place where they can find the exact products and services they are looking for. This is why we shall always pay the closest attention to what participants have to say and respect their trust. The MYS is the most privileged place to visit the most outstanding fleet of recent superyachts available for charter or for sale. High-end visitors come from around the world and keep the dates of the show in their yearly agendas.
Over the past five years, we have been developing solutions to welcome the future clientele of luxury yachts. Every year, we raise the show’s standards of quality in terms of visitor facilities and information services to foster the best possible relationships between exhibitors and their clients. A good visit experience at the show can be beneficial for all the sectors of activities on exhibit.
Around 30,000 participants are expected this year. We do not aim at breaking the records of the number of attendees. On the contrary, we aim at better refining the quality of the show to better serve the industry, whether you want to build the yachts of your dreams or you want to be part of the leading superyacht influencers.
RI: How does the MYS contribute to Monaco’s reputation within the international yachting scene?
GT: With the support of the principality and local institutions, the MYS has become one of the most proactive ambassadors in promoting Monaco as a superyachting destination.
Every single yearly edition of the MYS is unique. The world’s most respected shipyards display 120 extraordinary one-off superyachts, of which 40 new launches are unveiled annually in a worldwide debut. For four days, yacht owners, future superyacht purchasers or charterers, decision-makers in the yachting and luxury industries attend the MYS to participate in one of the most influential business networks on earth. On the docks, the MYS curates the showcase of a selection of 580 leading companies in the industry, from the most reputable superyacht builders and nautical suppliers, top yacht designers, luxury manufactures and the best brokerage houses to the most sought-after tenders and water toys, prestige cars, and manufacturers of helicopters and private jets.
RI: And what does the event mean for Monaco as a nation?
GT: We should remember that the MYS is a city within a city for four days. Like the Monaco Grand Prix, it is a huge logistics challenge to set up a worldwide event in the centre of one of the world’s smallest countries... We work in coordination with Monegasque authorities to meticulously organise the setting-up and dismantling of the show on Port Hercules, and minimise any impact on local daily life. The MYS also attracts huge business for local restaurants and bars, hotels (fully-booked), supermarkets, luxury boutiques and all the services of transportations and hospitalities.
RI: Finally, what is new at the MYS for 2018?
GT: This year’s MYS will present a new floating exhibition that will make the visiting yachts easier for the attendees. The exhibition of Tenders & Toys will be more extensive and will reveal cutting-edge luxury tenders and water toys, with some brand-new vehicles unveiled in a world premiere. Aficionados of hypercars will also experience something different thanks to the new selection of distinguished cars at the show’s Car Deck exhibition. The area will display an original and top-notch selection of around 10 bespoke luxury automobiles – all produced in very limited numbers – with some available for test-drive for the MYS’s premium clients.
If you're working the show this year, read our Insider Tips for where to take your clients! Click here.