Singapore's Yacht Rental Market Holds Tremendous Potential for Future Growth

Singapore's yacht rental market stays optimistic post-pandemic as demand picks up with more yacht-driving license holders.

SINGAPORE, July 24, 2023/EINPresswire.com/ -- As the pandemic stabilizes and borders reopen, the demand for yacht rentals has shown a decline but remains higher than pre-pandemic levels. This presents both challenges and opportunities for the yacht rental¹ industry. Despite the impact of the pandemic, many individuals seek to escape the confines of everyday life by choosing to rent yachts, creating new opportunities for the yacht industry. Moreover, an increasing number of people are obtaining yacht driving licenses, hoping to explore the beautiful waters independently. While the current demand for yacht rentals has decreased, the number of license holders continues to steadily rise.

The yacht rental industry has experienced fluctuations in recent years. With the pandemic causing havoc, many individuals cancelled their plans for international travel and turned to local vacations, leading to an increase in the demand for yacht rentals. However, as the pandemic gradually comes under control and international tourism starts to recover, some people have shifted to other forms of travel, causing a slight decline in yacht rental demand.

Nevertheless, this does not indicate that the yacht rental industry is facing a decline. On the contrary, the yacht rental market still holds tremendous potential. Many people find yacht cruises² to be a unique travel experience³, enabling them to explore the beautiful waters and islands around Singapore.

With the increase in demand for yacht rentals, more and more people are pursuing yacht driving licenses. This provides them with the opportunity to independently drive yachts. The Singapore Maritime Academy, a division of the Singapore Polytechnic, is the only institution in the country authorized to assess and issue recreational yacht driving licenses. From 2000 individuals in 2019 to over 9000 in 2021, the number of license holders has shown a significant upward trend. Although there was a slight dip in 2022, courses for obtaining licenses for driving medium-sized yachts remain popular.

More, in the waters surrounding Singapore, there are numerous spots that are perfect for engaging in yacht activities. Two activities that have gained particular popularity are fishing and exploring the nearby islands. Islands like Lazarus Island and St. John's Island have become hotspots for yacht enthusiasts. Singapore boasts excellent yacht facilities, and the water and weather conditions are highly suitable, making yacht excursions perfect for enjoying the sun and snorkelling. As a result, Wanderlust Adventures is dedicated to developing yacht exploration tours to the outer islands of Singapore, aiming to attract more tourists.

There is enormous potential in the yacht rental market, especially after the return of international tourists and the waning of the surge in domestic outbound travel. The continuous increase in the number of license holders also attests to the industry's sustained development potential. The yacht rental industry will continue to offer endless opportunities for those who crave to explore the seas and seek unique travel experiences.

The yacht rental industry in Singapore remains robust, with ample potential for growth. The increasing number of individuals obtaining yacht driving licenses further strengthens the industry's future outlook. As more people seek unique travel experiences and explore the beautiful sea regions, the yacht rental market will continue to thrive, offering exciting opportunities for tourists and locals alike.

Lorraine Chong
Wanderlust Adventures Pte Ltd
+65 9476 6883
lorraine@wadventures.com.sg
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¹ https://wadventures.com.sg/
² https://wadventures.com.sg/
³ https://wadventures.com.sg/