Superyacht charter on the rise, says Balearic report

Motorboat & Yachting: The number of superyachts available for charter in Spanish waters has risen significantly over the past two years, according to a new report.

 

The Spanish Government’s decision to drop matriculation tax has given a massive helping hand to the local superyacht charter market, according to figures recently released by the Spanish boating association AEGY.

In its 2015 report, AEGY reveals that there are now 86 yachts over 20m that are currently available for charter in the Balearics, compared with just 29 in 2013, before the matriculation tax laws changed.

As a result, the Balearic superyacht charter market is now worth €12.5m (£8.8m) a year to the Spanish economy in terms of taxes and local spending.

Back in 2012, matriculation taxes were bringing in just €4m for the whole of Spain, so AEGY argues that the decision to drop this levy on superyacht charters was the right one.

Diego Colon, president of the AEGY, said: “We recognise that there is still work to do to ensure that the bureaucratic and fiscal procedures related to chartering and operating superyachts in Spain are simplified and streamlined.

“However we are confident that these statistics will strengthen and support our lobbying initiatives.” He added that six of the eight major international brokerage companies now have offices on Mallorca.

The AEGY report also estimates that there are 600 superyachts (over 24m) currently available for charter in the Mediterranean, and predicts the total for Spain is likely to hit triple figures by the time the 2016 superyacht charter season rolls around.

See article at Motorboat & Yachting

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