A 4.2% increase doesn't sound like much, but when it’s the first sign of growth in global revenues in eight years, it’s reason to celebrate. Which is what the bareboat charter market is set to do in 2013. The Sailing Company’s annual Sailing Industry Study has found evidence of the first rays of sunshine in what has been a gloomy chartering market.
It seems people are also willing to travel farther to what are perceived as more “exotic” destinations. Most overseas bases have grown significantly with the Caribbean and the Bahamas leading the way at 10% growth in charter weeks, 2012 over 2011. Hot spots like the Grenadines and British Virgin Islands have gained ground. Other areas showing promise are Mexico, the Mediterranean and the South Pacific including Tahiti, New Zealand and Australia.
Domestically, charter companies have had a rougher ride with a 15 percent decrease in charter weeks overall. North American destinations along the New England, mid-Atlantic and Florida coasts are clearly still suffering. The good news has come from the West where business has declined at only half the national rate. Due to the unique geography of the Pacific Northwest (which include the popular San Juan Islands), people travel from far away to get a glimpse of orcas, dolphins and sea lions up close.
Mike Lovell of Anacortes Yacht Charters in Washington state recognizes the value of uniqueness. “We have a short season so we need to pack in as much as possible,” he says. “We are lucky to have a destination that can’t be duplicated anywhere in the country or the world so we draw from far away. Our traffic is by far, not just locals.”
In California, that seems to be a bit different. Although many people choose to charter for longer getaways to places like Catalina Island and the Channel Islands, most like to get out for only a day. Chris Jester, owner of Newport Beach Sailing and Sailtime in Southern California, sees growth with his closer-to-home clientele. “Eighty to ninety per cent of our customers just want to go out for a four-hour afternoon daysail so we have to be open to every kind of charter,” he says. “We've also gotten creative and promoted sailing for corporate events. We’re about to host a six-boat team-building exercise for Volkswagen which introduces many non-boaters to the sport and some are bound to end up chartering for their vacation.”
So what does all this relatively good market news mean to anyone thinking of chartering? North American destinations are likely to be offering deals to attract customers, and foreign bases are adding boats so there should be good availability. Even better, more catamarans translates to comfortable accommodations for cat-converts and the opportunity to try something new for monohull purists. Overall, chartering is ticking up, and it’s time to get out on the water.
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