New Charter Markets Grow - Italy still faces problems
Hein Velema, CEO of Fraser Yachts, said “Overall charter bookings are remaining similar to last year with bookings being made but many clients still waiting till the last minute to try and get the best rates.
“However there has been an increase in bookings from Brazil, where clients are keen to book charters in the Med during their winter season. Whilst Brazil has some beautiful cruising grounds the Med is still seen to be better and also a lot safer. Brazil also has very high import duties on yachts entering the country making charter in Europe a more appealing option than ownership at home.
“The Italian charter market is still being severely impacted by the new VAT laws. Although these have now been somewhat clarified, charterers are reluctant to go there and are doing everything possible to avoid starting their charter in Italy to avoid any possible tax issues, which has led to a corresponding increase in charter bookings in France and the Adriatic.”