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Press Release – 20 October 2023
The conclusion of the 2023 edition of the Monaco Yacht Show (September 27-30, 2023) was marked by enthusiasm shared among all stakeholders in the yachting sector. The MYS was hailed as an essential and powerful media and commercial catalyst. This recognition underscores the importance of the MYS in addressing societal and environmental issues that have become intrinsic to the development of the yachting industry.
Featuring a diverse exhibition showcasing 565 exhibitors and a fleet of 117 superyachts, with increased attendance from potential clients (11,634 private visitors out of a total of 27,223 visitors), MYS 2023 reinforced the industry's recent shift toward more responsible navigation.
The theme of sustainability was at the forefront of all discussions, capturing the attention of the media, visitors, and exhibitors alike.
The opening conference of the Monaco Yacht Show aimed to dispel prejudices regarding yachting's impact on global marine pollution, which stands at 0.3%. The presentation highlighted the correlation between this low figure (though still too high!) and the substantial investment made by the industry in developing sustainable solutions for cleaner navigation.
The crucial role of the Sustainability Hub in promoting more responsible practices within the industry was fully realized by providing an exceptional showcase for clean energy solutions. This incubator for companies specializing in eco-friendly solutions, selected in partnership with the Water Revolution Foundation, holds crucial importance as the yachting sector continues to evolve toward higher sustainability standards. Siemens Energy's sponsorship of this space was particularly noted for its contribution to the technological development of sustainable energy source management systems and environmentally friendly fuels.
The commitment to ecological practices was shared by the 565 exhibitors, each presenting their pragmatic approach to environmental preservation on their stands or during the thirty conferences ( see the report on advanced trends discussed during these roundtable sessions).
Yacht Design & Innovation Hub - Evolution of design towards sustainability and functionality
The various projects presented by designers unequivocally converged towards two imperative guiding criteria in the construction of future yachts: sustainability and functionality.
What emerges is a true virtuous circle where technological advances intersect with an increased focus on sustainability, reflecting new onboard lifestyles with yacht owners seeking extended stays. The pandemic has indeed led to a growing trend among clients who now view their yachts as full-fledged work and living spaces.
Designers, aware of this new reality, committed themselves to guiding their clients toward responsible navigation, enabling a holistic approach to the sustainability and functionality of tomorrow's yachts through eco-friendly innovations. Energy consumption reduction and the adoption of environmentally friendly materials form the core of this approach, instilling a forward-looking perspective. The Water Revolution Foundation has also launched the Designers’ Protocol, a pioneering initiative aimed at establishing sustainability principles and standards for yacht design. This comprehensive framework facilitates discussions on essential sustainability aspects with clients, fostering responsible and environmentally friendly yacht projects.
Commitment to environmental and societal actions
The MYS provided a platform for the exchange of ideas and the commitment of the yachting community, driven by the firm belief in playing a concrete and essential role in favor of environmental and societal actions.
This was notably reflected during the inaugural evening "The Honours," orchestrated by the Monaco Yacht Show and The Superyacht Life Foundation. During this event held on Tuesday, September 26, three individuals were honored. Wendy Schmidt, recognized for her unwavering commitment to marine preservation. Jenny Matthews was distinguished for her exceptional work in promoting diversity through female representation in the yachting industry. Finally, Zoran Selakovic, at YachtAid Global, was praised for his mobilization within the international yachting community to provide humanitarian aid in case of natural disasters, as well as for his conservation initiatives for coastal populations worldwide.
In addition, the Monaco Yacht Show continued its carbon neutrality program to reduce its own environmental impact, fully aligning with the environmental actions promoted during the four days of the show.
Gaëlle Tallarida, Managing Director of MYS, stated, «With the support of the Principality and the Informa Group (Editor's note: FasterForward is Informa's program aiming to offer sustainable events in the long term), MYS is actively involved in developing a plan to progress towards carbon neutrality. However, the success of our initiative depends on the collaboration of our exhibitors and the awareness of our visitors. We have the responsibility to emphasize the importance of sustainable practices within the yachting industry through the perspective of our events. It was crucial to raise awareness among our exhibitors and visitors, as we are currently in the data collection stage to assess the resources needed to neutralize our carbon footprint in the long term.»
MYS 2023 proved to be a successful new edition in multiple aspects, generating enthusiasm and renewed confidence among exhibitors who expressed satisfaction with the quality of visitors, illustrating the exceptional commercial potential of the event.
The growing trend of interest from new fortunes in yachting was confirmed, with a significant number of online yacht visits aligning with this dynamic. The official program for MYS VIP visitors, the Sapphire Experience, played a proactive role in facilitating connections between these serious private visitors and shipyards as well as brokers. MYS coordinated 217 yacht visits through its official program and other initiatives to welcome private clientele.
The exhibition brought together an impressive fleet of 117 superyachts, including 45 launches in 2023 and 61 units under two years old, solidifying MYS's reputation as an essential promotional stage in the yacht rental, purchase, or commissioning process.
This edition also highlighted the growing interest of new fortunes in yachting, demonstrating the relevance and perpetual appeal of this dynamic industry.
The organizers of MYS also observed two trends in the changing perception of yachting.
Firstly, a significant transition in the profile of yacht clients, with a marked decrease in the average age of superyacht owners (50-55 years). A new generation of younger and sustainability-conscious boaters is investing in yachting, expressing a strong interest in eco-responsible technologies and ever more personalized sea experiences.
In parallel, MYS has been the catalyst for a transformation in the media approach to yacht coverage. The media has shifted towards a discourse focused on sustainability, cutting-edge technology, and societal engagement, marking a significant departure from conventional narratives. This new approach has highlighted the concrete actions taken by the yachting industry to contribute to solving our current societal issues.
The Adventure Area returns to the Monaco Yacht Show: a gateway to unprecedented yachting experiences.