How is the international yachting industry getting prepared for the Chinese evolving market? This lifestyle of the super rich is getting more and more attention among the Chinese ultra rich. For me, it seams that Monaco is leading this game clearly. For the seventh consecutive year, Monaco Yacht Show has organized a separate China Night event celebrating the relations between Monaco and China. This year, it relied on Chinese celebrity actor Li Chen for extra Asian publicity.
The world's finest yachts will be introduced to the market at two major Yacht Shows on the French Riviera. Cannes Yacht Show was held from 10 to 15 September and the equivalent in Monaco was from 25 to 29.9. Both are important, but the order of importance varies according to who you ask.
The yachting industry is a major employer throughout the French Riviera. According to Jean-Pierre Savarino, Director of the CCI Nice Chamber of Commerce in Côte d'Azur, it employs around 3,600 people, mainly through small and medium-sized enterprises.
The Cannes 2019 Yacht Show presented many innovations this year.
Sylvie Ernoult, director of the Yachting Festival, has strongly expanded the event into a larger area, but also added a whole Sailing Area.The six-day event featured the world's finest and most spectacular sailing and motorboats from industry-leading brands: over 550 vessels, 135 new models from 210 shipyards coming from 33 different countries.Also new are the environmental challenges that the industry has to take into consideration in its product development.
"From one end of the Croisette to the other"
Cannes, located in the heart of the French Riviera, hosts multiple events all thru the year and not only the very famous "film festival" This time it was boat time!
Each year, the event introduces new models but also innovations and lifestyles related to the growing industry. The old port of Cannes in the heart of downtown, Vieux Port, was reserved for new 10- to 48-meter motorboats, as well as suppliers and services in this sector.
The big novelty was a separate area for the sailing boats. The Port Canto harbour also featured more than 50 used ships over 22 meters in length. The entire famous Croisette was exploited for the event and a shuttle boat between the areas made it easier to navigate.
Nocturne - Expected Last Night!
Friday - The Cannes Yacht Show Nocturne is the highlight of the week with sought for invitations, where champagne and live music adds to the festive experience. Business relations are increased over a "coupe" as the sun sets behind the boat lane.
Monaco's Yacht Show (MYS) focuses on glamour. The world's leading and Europe's biggest are also attributes used in marketing. It is undoubtedly marked by a stunning array of Super Yachts whose VIP guests are, of course, all barefoot on these precious decks. With over 30,000 visitors, 40 new launches and ships worth more than € 3 billion, the four-day event was startling. The event was attended by 600 exhibitors and 145 super yachts presented to 30,000 visitors, of whom 87% were foreign.
On Wednesday's opening day, the wind twisted the masts and made the flyers available for the visitors exciting. The Monaco brand is super luxury and wants to emphasize MYS as being the extravagant gala of the "House of Fine Yacthing" - The MYS Inaugural Gala Event & Superyacht Awards Ceremony that hosted 400 guests. The most glamorous gala, held for the third time, was the Monte-Carlo Ocean Gala, where world stars Robert Redford, Nicole Kidman, Uma Thurman and others help raise large donations to Prince Albert II of Monaco Foundation Initiatives to save the Ocean and Stem Effects of Climate Change.
It is noteworthy that the YCM, the Yachting Club Monaco, is rewarding, for the third year, the owners of luxury boats who have demonstrated environmental responsibility from design to ship use.
The coming years will be interesting to follow; how the prevailing trend towards larger and larger yachts, younger owner profiles and the necessary actions that the climate change requires -do, or not, fit together.