Why the world's superyachts are getting bigger and bigger

Superyachts are becoming more popular and much larger as wealthy people look for new ways to enjoy luxury and privacy. Paola Trifirò, an Italian lawyer, and her husband have owned more than a dozen superyachts over the years. They use these boats to travel the world in style, describing them as floating five-star hotels. Paola is very involved in designing their yachts, making sure the kitchen is big enough for the crew to prepare gourmet meals for up to fifteen guests. She believes this is important because not every place they visit has good restaurants. She also feels safer on a large yacht, whether she is sailing near whales or meeting fishermen on remote islands. Paola even enjoys piloting the yacht herself, which gives her a sense of adventure and control.

A superyacht is generally defined as a luxury, privately-owned yacht that is at least 24 meters long and has a professional crew. The demand for superyachts increased after the Covid pandemic, as the super-rich could not stay in luxury hotels and instead turned to yachts for privacy and safety. In 2022, over 1,000 new superyachts were built or ordered, which was a 25 percent increase from the previous year. This number grew even higher in 2023. People are not just buying more yachts; they are also buying bigger ones. For example, in 2024, 61 yachts longer than 76 meters are being built, compared to 55 the year before. The number of yachts between 46 and 60 meters has also increased. However, sales of the smallest superyachts have dropped. This shows that new buyers are upgrading to larger vessels.

Modern superyachts are packed with luxury features, including helipads, cinemas, gyms, beauty salons, and saunas. Some, like the yacht owned by Amazon founder Jeff Bezos, cost more than 500 million dollars to build. Prices for new superyachts start at 36 million euros for smaller models and can reach 295 million euros for the largest, most luxurious ones. Italy is the leading country for building superyachts, with its shipyards working on a combined length of about 22 kilometers of boats. Turkey, the Netherlands, the UK, Taiwan, Germany, the US, and China also have strong yacht-building industries. In 2023, Italian shipbuilders earned a record 8. 3 billion euros from superyachts. Most buyers are from the US, but more are coming from Turkey, Indonesia, and Mexico as those countries' economies grow. Sales to Russian buyers have dropped because of sanctions. For Paola, owning a superyacht is about exploring the world and enjoying the freedom of the sea. She values her crew and pays them well, with her captain working for her for over two decades.