Published: 24-09-2009
As the industry gears up to head to the principality for the largest annual gathering of the superyacht sector, the nineteenth edition of the Monaco Yacht Show will have an even more important role to play than ever. In boom times the show was the place where many deals were closed and new contacts made. Now, as we face up to the consequences of global recession, the Monaco show will be a crucial barometer as to whether the green shoots of recovery are really sprouting.
It was actually at last year’s Monaco show that the impact of the credit crunch first became very apparent to more than just insider dealers and stressed out bankers. Something happened during that week in September as the atmosphere switched from the usual sun-kissed confidence to concerned frowns. Some people left the show early as shares took a hammering and by the time we all came together again in Fort Lauderdale a month or so later it was clear that the superyacht sector was in for a rough ride.
At the 2009 Monaco show, which will run from 23 to 26 September, some say that it is the ‘word on the pier’ that will matter most. In an industry that is to a large extent ruled by emotion, the sentiment on the quayside and at the stands will tell us much about whether the much-awaited turnaround in fortunes is close at hand. It promises to be an exciting and intriguing few days.
If the facts and figures released by the show organisers are anything to go by, we are certainly in for an impressive event display-wise. All berths were sold out months ago and there is a huge waiting list of yards and brokers who would like their vessel to join the 100 superyachts from 25 to 90 metres in length (well over half of which will be in the 40-metre-plus bracket).
Featuring the industry’s 500 leading companies, the nine thousand square metres of stands are also fully booked. What’s more, the number of double-decker pavilions has actually been doubled compared to 2008, and even that proved insufficient to satisfy demand for these high-visibility exhibition areas.
Of course it is the quality of the guests and visitors that will ultimately determine the success of the Monaco show. The MYS is recognised as a luxury product in its own right so the question is whether the attraction of having the best collection of quality superyachts in an exclusive environment will continue to prove irresistible to the owners and influentials that make our industry go round. Don’t bet against it.
Monaco Show 2009
Where: Port Hercules: Main entrance at Darse Sud
When: 23 – 26 September 2009
Times: 10.00 to 18.30.
Cost: € 60 per day (half of which goes to the Monaco Association Against Muscular Dystrophy)
Sponsored by Abu Dhabi and Ulysse Nardin