Port Hercules will host the world’s largest showcase for super and mega luxury yachts at this year’s Monaco Yacht Show. The expanded berthing area will accommodate 100 large luxury yachts.
Gaëlle Tallarida, Monaco Yacht Show managing director indicated that the show has had space challenges for the last 10 years. However, the improving global economy and expanding demand for super yachts propelled the show, in conjunction with the government of Monaco, to extend the show’s footprint for 2014 for accommodate additional vessels in the show located in the world capital of yachting.
The additional space matches the demand for exhibiting bigger yachts at MYS. Last year’s show appeared to point toward a yachting market recovery. Today, some yachting statistics are approaching pre-recession figures, particularly in terms of volume, with orders and the demand for financing on the increase. Also playing into the decision is the fact that during the last three years, the market has seen an increased demand for yachts over 100m. MYS will now be able to accommodate sufficient numbers of these larger vessels for all to see.
The MYS floating rea now extends to the port entrance in front of the Monaco Yacht Club and Quai Rainier, 1er Grand Amiral de France, providing space for about 110 yachts over 100 meters in length. A wider exhibition area will provide approximately 400 additional square meters of space.
Special events that occur everyday make MYS special, with over 100 events organized on board yachts, at exhibition stands or in nearby top hotels, including awards, lunches, gala dinners and cocktail parties. Formal and informal networking that occurs at MYS also attracts individuals who can afford and buy super and mega yachts.
As a unique annual event, MYS attracts industry leaders ad billionaires from all over the globe. Recent research indicted that ultra-rich individuals are showing a stronger interest to buy and have an interest in yachting, especially those living the United States and Eastern Europe. The show will also welcome new wealth from emerging markets like Turkey, Chine and South Asia, with the expanded show area allowing this visitors to catch up with trends and be tempted to acquire one of the luxurious yachts on display.
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