On an average, the yacht rental industry in the world is prospering at a terrific pace. The growing demand among people all over the world to travel around and host parties in style on luxury yachts, has not only set a trend now but it has also increased the demand for yacht charters, since, not everyone can afford to purchase a luxury yacht. Hence, to fulfill this ever increasing demand, many Yacht Charter companies are emerging in different places every now and then for people to have voyages and also throw corporate parties (like product launches, seminars, conferences, company picnic, corporate meeting, farewell and so on) or personal parties like birthday, anniversary, wedding and so on. Yacht charter business is particularly extremely popular in places like Sydney, New Zealand, Canada, and New York and so on. However, in India the scene is quite different. In India, it is almost a sinking industry with very low sales result.
Yacht charter Mumbai before 2008
Earlier it was believed that only the rich and famous own private yachts and use their yachts to travel to distant places from the Bombay harbor or even throw executive parties for their premium and elite class of friends and peers. These rich businessmen and celebrities used to live in great pomp and would lavishly spend a lot of wealth in these yacht parties. Some of them also used to be known by the number of yachts they possessed. This was a period when the yacht charter business was at its peak in India and the industry flourished greatly in the city of Mumbai. The blue water near the Gateway of India used to remain dotted with white colored yachts sailing far and wide. These yachts would jostle their way in the port crowded with passenger boats, fishing boats and tourists.
Yacht industry in India post 2008
The trouble in the industry started after the year 2008, precisely from the month of November. The prime reason for the decline of the yacht sale sector in India is the economic slowdown that has resulted from various factors like depreciation of rupee, rising prices, hike of import duty, regulatory restrictions, lack of marinas for parking yachts and so on. According to the data collected from research, it has been seen that more than 90 % of the luxury yachts purchased during that time were imported from various countries and this economic slowdown has greatly affected the yacht sale sector since it has greatly reduced the demand for these imported luxury boats. Most of these luxury yachts used to cost more than 50 lakhs whereas the boats made in India used to cost a lot lesser than that.
And finally the biggest blow to the industry took place on November 26th 2008 when the terror attack happened in Mumbai. Since the terrorists had come to India through Arabian Sea, sailing was banned in this part of the country for near about three months, which made the industry suffer a lot.
About Author:
West Coast Marine Sailing Yacht Charter is India's largest One-Stop yachting company. Their portfolio contains a massive range of NEW and USED premium international brands of motoryachts, speedboats and sailing yachts & superyachts available for Sales and Charters across India and anywhere abroad. WCMYS provides end-to-end solutions addressing every aspect related to small, medium or large yachts, party yachts, and wedding cruises as well as above 24 metre superyachts (megayachts).
WCM's Yacht Charter India division is the leading & largest source of crewed yachts and boats for hire available in India. Whether large motor yacht charters, sailing catamarans or monohull sailboats; WCMYS takes care of every bit, from onboard services, to cultural tours, F&B, leisure activities, private events and a whole lot more. Come onboard and explore for yourself what this wonderful experience is all about!
Currently Yacht Charter services are offered from Mumbai, Goa, Port Blair, Kolkata and Chennai. Contact West Coast Marine Yacht Charters India at +91 22 61907000 or email at [email protected]. Also visit the website http://www.westcoastmarine.co.in/ for more information.
Get Onboard & Love the Life You Live - West Coast Marine Yacht Services
Yacht charter Mumbai before 2008
Earlier it was believed that only the rich and famous own private yachts and use their yachts to travel to distant places from the Bombay harbor or even throw executive parties for their premium and elite class of friends and peers. These rich businessmen and celebrities used to live in great pomp and would lavishly spend a lot of wealth in these yacht parties. Some of them also used to be known by the number of yachts they possessed. This was a period when the yacht charter business was at its peak in India and the industry flourished greatly in the city of Mumbai. The blue water near the Gateway of India used to remain dotted with white colored yachts sailing far and wide. These yachts would jostle their way in the port crowded with passenger boats, fishing boats and tourists.
Yacht industry in India post 2008
The trouble in the industry started after the year 2008, precisely from the month of November. The prime reason for the decline of the yacht sale sector in India is the economic slowdown that has resulted from various factors like depreciation of rupee, rising prices, hike of import duty, regulatory restrictions, lack of marinas for parking yachts and so on. According to the data collected from research, it has been seen that more than 90 % of the luxury yachts purchased during that time were imported from various countries and this economic slowdown has greatly affected the yacht sale sector since it has greatly reduced the demand for these imported luxury boats. Most of these luxury yachts used to cost more than 50 lakhs whereas the boats made in India used to cost a lot lesser than that.
And finally the biggest blow to the industry took place on November 26th 2008 when the terror attack happened in Mumbai. Since the terrorists had come to India through Arabian Sea, sailing was banned in this part of the country for near about three months, which made the industry suffer a lot.
About Author:
West Coast Marine Sailing Yacht Charter is India's largest One-Stop yachting company. Their portfolio contains a massive range of NEW and USED premium international brands of motoryachts, speedboats and sailing yachts & superyachts available for Sales and Charters across India and anywhere abroad. WCMYS provides end-to-end solutions addressing every aspect related to small, medium or large yachts, party yachts, and wedding cruises as well as above 24 metre superyachts (megayachts).
WCM's Yacht Charter India division is the leading & largest source of crewed yachts and boats for hire available in India. Whether large motor yacht charters, sailing catamarans or monohull sailboats; WCMYS takes care of every bit, from onboard services, to cultural tours, F&B, leisure activities, private events and a whole lot more. Come onboard and explore for yourself what this wonderful experience is all about!
Currently Yacht Charter services are offered from Mumbai, Goa, Port Blair, Kolkata and Chennai. Contact West Coast Marine Yacht Charters India at +91 22 61907000 or email at [email protected]. Also visit the website http://www.westcoastmarine.co.in/ for more information.
Get Onboard & Love the Life You Live - West Coast Marine Yacht Services