The boat rental market - Italy (2024)

1.2 A dynamic rental market

The marine tourism sector, along with the rapidly expanding recreational yachting segment, has proven to be a significant lever for global economic growth. Through tax revenue generation, job creation and contribution to the local economy, marine tourism provides tangible benefits. Such activities not only promote economic development, but also encourage social cohesion and environmental sustainability. The global boat rental market starts at a size of $**.* billion in **** and increases to $**.* billion in ****, registering a CAGR of *.**%. This suggests a sustained expansion of the boat rental industry on a global scale. Boat rental market World, ****-****, in billions of dollars IMARCGroup Focusing on the yacht charter segment, the market size grows from $*.** billion in **** to $**.** billion in ****, with a CAGR of *.**%. Yacht charter market World, ****-****, in billions of dollars FortuneBusinessInsights

The European yacht charter market, starts at a size of $*.** billion in **** and reaches $*.** billion in ****, with a CAGR of *.**%. This again shows a positive trend, a sign of a growing market.

Boat rental market Europe, ****-****, in billions of dollars StellarMR Policies implemented internationally are strengthening the coastal tourism sector as a proactive response to the challenges posed by climate change and environmental degradation. EU maritime policy explicitly encourages the ...

1.3 The boat rental market in Italy

The graph shows the evolution of the turnover of Sports and Recreational Equipment Rental, including unmanned recreational boat rentals, from **** to **** in millions of €. in ****, the turnover was ** million €. This gradually increased in subsequent years, reaching *** million € in ****, *** million € in ****, and *** million € in ****. In ****, there was a significant increase in turnover to €*** million, followed by a further increase to €*** million in ****. Turnover decreased slightly to €*** million in ****, and then increased again to €*** million in ****. **** saw a slight decline in turnover to €*** million, but this was followed by a sharp increase to €*** million in ****. Turnover continued to grow in **** and ****, reaching €*** million and €*** million, respectively. In ****, likely due to the COVID-** pandemic, turnover declined to €*** million, and then rebounded to €*** million in **** Overall, from **** to ****, turnover in sports and recreational equipment rental, including unmanned recreational boat rentals, increased ***% .

Turnover of Sports and recreational equipment rental, including unmanned recreational boat rentals Italy, ****-****, in millions of € Source: ****

The Italian boat rental market is very important as the country has more than **** km of coastline.[***] Depending on the region, the boat rental market is more or less developed. The dominant region is Sicily with *** registered companies. It can also be seen that some high-potential ...

1.4 Trade flows

Italy is a well-known exporter of boats; in this section we analyze data on HS code ****, which includes yachts and other boats intended for pleasure or sport, rowing boats, and canoes.

Between **** and ****, the pleasure or sport boat sector experienced significant growth in exports, which increased by **.* percent from ****.* million to ****.* million. Imports showed fluctuations, with an initial increase followed by a decrease and then an increase again, before declining in **** to ***.* million. The coverage ratio, which indicates the ratio of exports to imports, increased significantly from *.* to **.*, reflecting a greater ability of the country to meet domestic demand with domestic production and underscoring a growing competitiveness in the global yacht market.

Import-export of yachts and other boats intended for pleasure or sport Italy, ****-****, € million Uncomtrade

The top countries in terms of exports, the United States leads the ranking with **.* percent, followed by the United Kingdom and France with **.* percent and **.* percent respectively, showing the central role of these advanced economies in the pleasure craft sector. The Cayman Islands and Malta, with **.* percent and *.* percent, highlight the importance of offshore jurisdictions for both registration and production of these vessels.

Main countries by exports of yachts and other boats for pleasure ...

1.4 The impact of Covid-19 on the boat rental market

Despite the **** health crisis, Sailogy, a digital player in the boat rental market, reported a ** percent increase in sales in June **** compared to the same period in ****. [***] The explanation for this dramatic and somewhat surprising increase may be the concordance between the (***) boat rental model and the social distancing rules encouraged by the medical profession. If this increase is therefore related to the health situation, it is possible that it will last over time, because recreational boat rentals are actually cheaper than vacationers imagine

Click and boat, Europe's leading private yacht rental company, reported a ** percent increase in boat rentals [***]

Digital players in the market, including Sailogy, are trying to democratize the practice of boating and chartering, and the year **** may have helped give visibility to this summer practice.

However, as expected, **** rentals are particularly local. At Sailogy in Italy, for example, ** percent of the clientele is Italian. [***]

The chart below shows the evolution of boat rentals between **** and ****. Powerboats attracted the most in ****, although it is usually a somewhat niche segment.

Demands by boat types, summer **** Italy, ****, in % Source: ****

2.1 The popularity of boating in Italy

In the taballe below, the Italian regions are distinguished by the number of registered recreational boats. The Mediterranean coast is much richer in terms of number of boats than the Adriatic Sea. It should be noted that these figures are not representative of the number of boats moored in the regions, as it is easy to register one's boat in another region and even in another country, which can be advantageous to pay less tax and pay one's crew according to the jurisdiction of other countries.

Source: ****

Rental facilitates access to boating

Boating is an activity that is often considered inaccessible especially given the potential costs involved in its practice. Rental can therefore be a solution to enable Italians to access boating at low cost .

2.2 A seasonal practice

The graph shows the index of interest on Google Trends for the search "Boats for rent" in Italy from **** to ****. A clear seasonal pattern can be seen, with peaks occurring each year in the summer months, when demand for boat rentals is highest due to the tourist season. The index values reach their highest point, indicating the highest interest in this research, and drop significantly in the colder months. This seasonal trend is consistent and predictable.

Google Trends index of interest for the search for "Boats for rent" Italy, ****-****, Google Trends index GoogleTrends

MACROREGION INDEX OF INTEREST GOOGLE TRENDS Islands ** South ** Center ** Northeast ** Northwest **

2.3 Italy's port infrastructure: distribution of berths

The graph presents data regarding the total number of berths and the number of infrastructure in the various Italian regions. Liguria is the region with the largest number of berths, with a total of **,***, followed by Sardinia with **,*** berths and Tuscany with **,*** berths. On the contrary, the region with the least number of berths is Molise, with only *** berths. As for the number of infrastructure, Sicily is the region with the most, with a total of ***, followed by Sardinia with *** and Liguria with **. Again, Molise is the region with the least number of infrastructure, with only *.

Regional distribution of berths in Italy Italy, ****, in absolute value Source: ****

2.4 Nautical Licenses

One of the drivers of demand for boats, whether in buying and selling or chartering, is obtaining a boat license. As will be seen in section *.*, the most popular rental in summer **** was the catamaran without the presence of a skipper, assuming the possession of a boat license by the person who decided to rent the boat.

The graph displays the trend in the number of first-time boat licenses issued from **** to ****. In ****, **,*** licenses were issued, this number started to decrease reaching **,*** in **** and **,*** in ****. The downward trend continued in **** and ****, with **,*** and **,*** licenses issued respectively. in ****, the number decreased slightly to **,***, followed by a significant decrease to **,*** in ****. However, from **** to ****, there was a slight increase, with **,*** and **,*** licenses issued respectively. In ****, the number dropped again to **,***. In ****, likely due to restrictions caused by the Covid-** pandemic, the number of boating licenses issued for the first time dropped dramatically to **,***. However, a strong recovery occurred in ****, with the number of licenses issued nearly doubling from the previous year to **,***.

Annual trend in first-time licenses issued, ****-**** trend Italy, ****-***, in absolute value Source: ****

In ****, ** percent of boating licenses have a rating within ** meters from the coast. This is followed by ...

2.5 Boat rental and cruise data

According to GlobeSailor, an agency specializing in cruises and boat rentals, the summer season of the Italian boat rental market ended **** with a **% decrease compared to ****.

Italians' favorite destinationsin summer ****, were Italy in first place with ** percent of bookings, followed by Greece, Croatia and Spain. In Italy, the most popular destinations were, in order of attendance, Sardinia, followed by Ligura and Campania.

Also according to GlobeSailor, of all bookings from January to September ****, for all destinations, ** percent were for a charter of a catamaran without a skipper, ** percent for a charter of a catamaran with a skipper, and ** percent for a charter with a cre (***).

Breakdown of catamaran rentals, by type of offer Italy, ****, in % Source: ****

Due to higher summer demand than supply of catamarans in the Mediterranean area, the average cost of renting a catamaran increased by **% in **** compared to the year ****, reaching an average figure of €*,***, without options and skipper [***].

Short-term rental phenomenon

According to the Click&Boat rental platform, during the summer period, Italians prefer daily boat rentals over weekly rentals. In addition, FMI says the growth of the global boat market is driven by the emergence of short-term rentals, which typically last one to three days and ...

2.6 Booking rate of sailboats and yachts

The average booking rate is the percentage ratio of the number of booked to the number of all. The highest booking rate is in the week from **/**/****, and the lowest is in the week from **/**/****. The graph presents data on the average booking rate for sailboats in ****, broken down by the number of cabins. Boats with * cabins have the highest booking rate, with a value of **.**%. This is followed by boats with *-* cabins, with a booking rate of **.**%. Boats with * cabins have a slightly lower booking rate of **.**%. Boats with * cabins and those with *-* cabins show the lowest booking rates. Specifically, boats with * cabins have a booking rate of **.* percent, while those with *-* cabins have a slightly higher booking rate of **.** percent. In general, the graph suggests that boats with fewer or more cabins tend to have a higher booking rate than those with an intermediate number of cabins.

Average booking rate of sailboats Italy, ****, in % Source: ****

The graph presents the average yacht booking rate based on the number of cabins. Cabin categories are divided into: * cabins, * cabins, *-* cabins, and *-* cabins. The highest average booking rate is for yachts with * cabins, which reaches **.**%. This is closely ...

3.1 The market structure

In order to analyze the structure of the rental boat market in Italy, active enterprises under Ateco Code **.**.* "Rental of sport and recreational equipment," which also includes enterprises active under Ateco Code ***.**.** "Unmanned rental of pleasure boats (***)," are analyzed. In particular, the number of active enterprises and the number of employees in the sector are analyzed, as well as the legal form of the different activities.

Number of enterprises

Between **** and ****, the population of active enterprises in sport and recreational equipment rental is growing. During the period analyzed, the total number of enterprises increased from **** to ****, representing a growth of **.*%. The trend appears to be positive during the entire period, and the outbreak of the pandemic in **** does not seem to have had any major consequences regarding the numerosity of the population.

Active enterprises under Ateco Code **.**.* "Rental of sports and recreational equipment" Italy, ****-****, in number Istat

Employees As for the number of employees, between **** and **** there is an increase, as in the previous case. During the period analyzed, the total number of employees grew by **.*%, from **** to ****. Unlike the previous case, the outbreak of the pandemic in **** resulted in a decrease in the number of employees (***), and in **** the ...

3.2 The value chain

3.3 The main actors

The following is a list of the main players active in the Italian boat rental market:

M.Y.I s.r.l: based in Olbia, Sardinia, specializes in unmanned pleasure boat rentals. Founded on August **, ****, this limited liability company has seen a surge in turnover in recent years, reaching €**,***,*** in ****. With ** employees, it recorded a profit of €***,*** in the same year.

Vm Charter s.r.l: active since May **** and based in Milan, it operates in the boat rental and operational leasing sector. It has experienced revenue growth, nearly doubling its income from **** to ****. Despite fluctuations in annual profits, the company demonstrates effective management and soundness in its field.

North Sardinia Sail s.r.l: is a renowned company specializing in sailboat charters, founded in **** by Simone Morelli, a retired Navy officer. The company started with only seven boats and has since gained a globally significant place in the yacht charter industry. With an initial base in Portisco, northeastern Sardinia, NSS later expanded its operations by establishing Marina Cala dei Sardi, located in the Gulf of Cugnana, an eco-friendly oasis and ideal starting point for exploring the Maddalena Archipelago and southern Corsica. Over the years, the company has added additional bases, ...

4.1 Types of charter boats

Most charter and chartering companies offer a wide range of pleasure boats and destinations, even at different times of the year, thanks to a small fleet and a network of contacts with various operators in the various domestic and foreign tourist locations.[***]

There are * types of charters; bareboat, captained, and crewed.

Depending on the destination, the choice of boat type varies greatly. Catamaran cruising for example, accounts for only **% of bookings in the Mediterranean versus **% in winter destinations (***). The number of catamaran rentals has increased slightly in recent years due to the increased comfort of the new catamaran models.The boats rented are mainly boats consisting of * to * cabins. However, we note the presence of non-cabin boats attached to a coastal charter, often on a day or half-day basis. In the chart below, we can see the number of boats rented according to the number of cabins available on board. Renters prefer boats with *, * and * cabins.

Number of boats rented by number of cabins on board Europe, ****, in number of units Source: ****

4.2 Variety of the type of rental offered

There are several types of pleasure boats that can be rented, varying in length, value, and equipment. The choice ranges from pedal boats to ocean-going sailboats and mega-yachts. Depending on the boat rented, there will be different customers and rates.

Boat rental is a key activity in the recreational boating market, as not all boaters want to have their own boat or have the time or means to do so. In contrast, renting a boat for the summer period is much easier: no mooring or port costs during the rest of the year, no maintenance costs, ability to change boat and port from year to year... Recreational boat rental has thus developed in recent years to become a major activity in maritime tourism. The market and its target audience are quite distinct from the sales market, which caters to a much more affluent clientele on average.

There are two main types of rentals:

crewed charter (***) the bareboat charter: if at least one of the charterers has his or her own boat license

Similarly, there are three main types of boat rentals:

The professional-to-private charter in which the professional owns the boat and rents it out; Management-to-hire: This is the same principle ...

4.3 Rental rates

Prices for boat rentals start from about ** euros per day per person for a small dinghy, up to **,*** euros per day per person for a yacht.

In general, rates are divided into "low, medium and high season" and differ according to the type of pleasure boat available and the location. Discounts are often applied to the customer if they decide to extend the charter period, for example from a weekend to a full week. [***]

The rental may be accompanied by the employment of a professional to guide the pleasure boat (***) on board. The fee may or may not include expenses related to berthing fees in ports, dockside services such as drinking water, electricity, telephone, etc. It is possible that the service of transferring the client to the port of embarkation may also be provided, especially when the client is abroad. [***]

In addition, almost all boats are rented at a price that excludes fuel. Fuel consumption must therefore be added to the rental price, including extras (which, for more powerful engines, can exceed the rental price. [***]

In the table below you can view the average daily rental cost of a recreational boat, based on the various types on the market, the data ...

4.4 Supply trends

Italy's first environmentally friendly boat sharing service

Innovation in the shared mobility sector now extends to the aquatic context, while maintaining a strong commitment to sustainability. This new development is being led by Michele Lauriola and Leonardo Caiazza, founders of Essence, the first electric boat sharing service. This project emerged from within the University of Bologna, where the two entrepreneurs earned an MBA in Green Energy and Sustainable Business from the Bologna Business School in ****.

The goal of their startup is to create an environmentally friendly and accessible boating experience for everyone. This new service works similarly to car sharing: customers can access and use electric boats via a mobile app. But the scope of this initiative goes beyond traditional sharing on the road. "Our goal is to make boating on electric boats simple, convenient and fun for our users. We want to contribute to a more sustainable future and reduce environmental impact through the use of cutting-edge technology," explains Michele Lauriola, an environmentally conscious entrepreneur and consultant specializing in sustainable business.

This revolution in the shared boat industry was previewed at the Venice Boat Show and kicked off in June ****. The first boat was moored in Mirabello harbor in La ...

4.5 Prices

Based on statistics published by YatchRent we can give an overview of the price trend of boat rentals in Italy.

The average price is ****€ per week is lower than Spain, Turkey and Greece. However, the maximum average price of ****€ in the second week of August is higher than all other countries analyzed.

The graph shows the average weekly boat rental price in Italy during ****, with data based on the study of *** boats listed on the Yacht-rent website. A pronounced seasonal pattern is observed with prices rising significantly during the summer months, peaking in August at €****, and then declining toward the end of the year. This pattern suggests a higher demand for boat rentals during the summer, which results in higher prices, while in the winter months, when demand drops, prices also tend to decline.

Average Boat Rental Price Italy, ****, €/week Yacht-rent

5.1 Boat rental regulations

From a legislative point of view, the number of recreational boats in Italy is divided into the following categories: watercraft , for which the length is up to * m or * t gross tonnage, embarcazzioni , for which the total gross tonnage is up to ** tons, pleasure vessels (***), of more than ** t gross tonnage. [***]

Only recreational vessels and boats can be subject to occasional leases. [***]

The product of occasional chartering of a vessel is subject to a favorable tax regime, including income tax and favorable taxes at a rate of ** percent. However, the law sets the limit for occasional activity at ** days per year. For the first ** days, the tax regime remains light, while from the **rd day onward, income from occasional renting is subject to normal income tax. (***) [***]

There are two types of rentals in Italy that differ from a legal point of view:

Leasing: this is the activity of entrusting the boat to the customer, who will manage or call a skipper. The boat handed over by the charter company must be efficient and equipped with safety equipment. It must also be covered by liability insurance and, finally, it must have navigation documents .

Charter: The charterer benefits from a vessel with a ...

5.2 Boating license

A boat license is required when the engine power or total engine power exceeds ** kW (***), or the displacement exceeds *** cc if two-stroke carbureted or fuel-injected, *,*** cc if outboard four-stroke, *. *** cc if the engine is four-stroke carbureted or fuel-injected, *,*** cc if the diesel engine is supercharged, or *,*** cc if the diesel engine is not supercharged, and when operating more than * nautical miles from the coast. [***]

The license is valid for ** years, and * years for persons over **. Renewal, at the holder's request, is done at the same issuing office or at one of the maritime and provincial offices. [***]

For free applicants, the price of a nautical license is between *** and *** euros, depending on the type of license and the place of passage. The training and exam can be up to *,*** euros. [***]

The different categories of permits are as follows:

Category A: command of watercraft and recreational boats . This license allows you to drive motor boats or sailboats with an auxiliary engine and motor gliders. it is available in two subcategories:

permit to sail within ** nautical miles from the coast or unlimited

Category B: command of recreational vessels . This license applies to recreational vessels over ** meters in length

Category C: nautical direction of vessels ...

6.1 Segmentation

• M.Y.I srl
• La Datcha Management s.r.l
• Marina Charter s.r.l
• Sail Italia s.r.l
• North Sardinia Sail s.r.l
• Mikasa Luxury Managment s.r.l
• Yachting In Sardinia s.r.l
• Vm Charter s.r.l