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Millennial superyacht owners: how they are shaping the yachting world

Millennial superyacht owners are on the rise, reports Business Insider. They have already caused a shift in most industries, and the world of yachting is not an exception. In order to cater the younger generation needs, yacht brokers will have to adapt to their preferences and lifestyle, while those who stick to the traditional ways of yachting will be inevitably left behind.

1. The yacht owners will get 10-15 years younger in the next 20 years.

Of the top 100 billionaires worldwide, 20% are below age 50, while superyacht owners are 10 to 15 years younger compared to 20 years ago, according to a new research by shipyard Rossinavi and the International University of Monaco. Furthermore, they are expected to get even younger — within the next 20 years, the median age of superyacht owners will decrease from the 45 to 55 range to the 35 to 45 range, according to Business Insider.

GYG plc (LON:GYG) was formed from the joint venture of two global superyacht painting, service and supply companies, Pinmar and Rolling Stock. GYG operates six market leading brands; Pinmar, Pinmar USA, Pinmar Supply, Rolling Stock, ACA Marine and Techno Craft.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.