Fort Lauderdale Yacht Firm Predicts Strong Economic Future in 2021
With COVID-19 restrictions lessening, the yachting industry anticipates a strong economic rebound
After positive Q1 results in 2021, IYC, a leading yacht firm in Fort Lauderdale, is reporting sales have increased over pre-pandemic earnings. With the yachting industry showing its strongest growth in the last four years, the rebound of yachting businesses involves more than just good timing and increased travel.
“With the pandemic, yachts are the safest bubble for vacation and travel,” says Mark Elliott, IYC sales and charter consultant. “Whether chartering or owning, people realized they can control their environment with the yacht and crew while traveling in total comfort.”
After selling 19 yachts over 24 meters in size during the first economic quarter of 2021, IYC is fully staffed and anticipating even more growth for the rest of 2021. IYC also indicated sales in the yacht brokerage market has increased 152% in March alone.
With the summer sailing season nearing and COVID-19 vaccines increasing, IYC sees a growth it can capitalize on and is opening an office in California later this year.
The annual economic impact from the boating industry in Florida is estimated at $23.3 billion, according to the National Marine Manufacturers Association.