The law that was passed in 2013 which made chartering in the Balearic-region more appealing to yachts wanting to cruise in the area, has had a significant impact on the number of yachts chartering here. The full impact could only now be analysed with reports from the Spanish Superyacht Association (AEGY) indicating that yachts with a license to charter in the Balearics has increased by 516% in the last two years.
The 29 yachts over 20 metres that were available for charter in the area in 2013 now stands at 85 with 37 of these yachts measuring over 35 metres. The impact on the local economy has been substantial with the Association estimating a net revenue of EUR 12.5 million generated by these vessels through tax and local spending.
Diego Colon, President of the AEGY commented: “We are delighted to see such a significant increase in charter activity in the Balearics and we are confident that this will continue to grow in 2016. The Balearic Islands are enormously attractive to charter guests and it is significant that out of the eight major international brokerage companies six now have offices on Mallorca.”
The expected increase in yachts chartering in the area will have a far wider affect on the region than purely the time spent cruising the area, as many of these yachts are encouraged to remain in the area during the winter months to make use of the world-class refit and maintenance facilities found on the islands.