Greece Breaks Record in Yacht Charters in 2022-2023

Photo Source: Riginos

Yacht charter activity in Greece picked up pace in the 2022-2023 period demonstrating the country’s leading position in Europe, according to data released this week by yachting experts Riginos.

More specifically, more than 7,200 yacht charters were recorded in 2022 making it a record year and 7,100 in 2023, said Riginos analysts. According to data, the charters concern large leisure craft exceeding 20 meters in size.

Overall in the Mediterranean region in 2020, yacht rentals reached 2,350  and 5,800 in 2021 reflecting a growing market trend.

Globally, Greece ranks first with 26 percent in terms of yacht rental interest, followed by France, and Italy (17 percent each).

Preferences in boat chartering worldwide – Greece (blue), France (grey), Italy (orange).

“Greece remained in the lead in 2023 in terms of charter preference across the Mediterranean region with a share of 31 percent, marking a 2 percent increase over 2022, followed by France with a share of 20 percent and Italy (19 percent),” said Konstantinos Angelopoulos, charter manager at Riginos Yachts SA.

Angelopoulos goes on to add that although both France and Italy offer wider and younger fleet of craft for rent, Greece applies a low VAT rate on charters and provides duty free fuel.

Photo Source: Riginos

Source markets for the yachting sector in Greece last year, according to Riginos, were Germany, France, Spain and Australia, while most customers were mainly from the US and UK.

In terms of availability, in 2023 there were more than 2,100 boats up for rent worldwide of which approximately 400 with a length of up to 95 meters were available in Greece.

In the Mediterranean region, Greece ranks third in terms of number of vessels, after Italy with 450 vessels, and France with 430 boats.