The superyacht industry has typically been a bastion of tradition and legacy, is undergoing a transformative evolution, fundamentally altering the way luxury travel is perceived and experienced. My Ocean, a pioneer in this sea change led by CEO Jonny Dodge, is charting a course towards an innovative and fresh approach that aligns with the desires of a new generation of consumers.
In recent years, the demographic landscape of yacht owners and charterers has undergone a noticeable shift, paralleling trends in other industries. The average age of customers has dropped by nearly a decade, bringing with them new preferences and expectations that are fundamentally reshaping the industry. No longer content with the standard offerings of luxury travel, these younger, tech-savvy, and crypto-heavy consumers are seeking experiences that are not only sumptuous party destinations but also meaningful trips that are aligned with their values.
This new breed of travellers, termed "luxury nomads" by My Ocean's CEO Jonny Dodge, is driving a shift in travel patterns. Mirroring data from companies like Airbnb, which has seen a surge in people opting to live in places seasonally, these luxury nomads are eschewing traditional holiday destinations like France in favour of more exotic locales like Dubai. Bloomberg reports that more millionaires are moving to the UAE than any other country in the world, highlighting the appeal of these new destinations.
But it's not just the destination that's changing; it's the entire ethos of the trip itself. The focus has pivoted from parties in St. Tropez to services catering to life longevity and wellness, a reflection of the changing priorities of wealthy individuals. Traditional family trips have evolved into community trips with friends, where the emphasis is on impact, meaningful discussions, and a collective responsibility towards the planet, rather than opulent parties.
My Oceanshared yacht charters idea has become very popular, especially during big events like Formula One in Monaco and Abu Dhabi which they have been hosting for many years but now extended to locations like Croatia and St Barths for New Year's have become great social gathering for the young audience looking to network and travel together.
In recognition of these shifts, My Ocean has positioned itself at the forefront of the industry evolution. By tailoring its offerings to cater to the preferences of the new luxury nomad, My Ocean is not just keeping pace with industry trends; it is setting them. The company, part of an extensive group of experienced companies, including brands like YourSky, and GP Management which offers access to private jets, F1 events, and even space travel. Furthermore, My Ocean has pioneered the concept of community charters, bringing together like-minded individuals for shared adventures on the high seas. 
And if you think that's the pinnacle of luxury travel, think again. My Ocean has its sights set on the final frontier: space yachts. While it may sound like the stuff of science fiction dreams, with My Ocean, it's a tangible possibility, with yacht builders and space capsule partners already secured to make this a reality by next year!
The superyacht industry is at a crossroads, and My Ocean is leading the way, showcasing how the industry can adapt and evolve to meet the needs of its changing consumer base. The future of superyachts is here, and with My Ocean at the helm, it is brighter and more exciting than ever before.