Held at Monte Carlo Bay Hôtel & Resort, the inaugural World Yachting Summit brought together a wide international yachting audience representing 20 nationalities. The three-day event was organised by M3, a Monaco-based marina consulting services company, with OMNIYAT, a Dubai-based luxury real estate developer, as its main sponsor.

Attendees included key players from the yachting industry, international organisations, regulatory bodies and tourism authorities, alongside government officials, waterfront developers and industry innovators.

José Marco Casellini, CEO of M3, said: “The first World Yachting Summit left a lasting impression on the yachting industry. WYS 2025 proved to be an extraordinary initiative on many levels, generating enthusiasm and praise from key industry players.

“Their positive feedback on both the quality of the content and the event’s organisation highlights its great commercial potential. This gathering is set to establish itself as a driving force for innovation and strategic thinking about the future of yachting on a global scale.”

Fostering active dialogue, constructive debate and networking opportunities, the event responded to the industry’s call for a more forward-looking approach, centred on a mix of innovation, sustainability and strategic vision.

The programme featured two main tracks of 19 panel sessions over three days, addressing ‘Business Perspectives & Tourism Development’, as well as the industry’s challenges in creating a ‘Practical Roadmap to Net Zero to Reinvent Yachting’.

Participants also enjoyed eight ‘inspiration talks’ and expert keynotes, which provided valuable insights ahead of the workshops, along with perspectives from related industries such as luxury real estate, wealth management, luxury hospitality, watchmaking and private aviation.

Jean-Claude Biver, a horology heavyweight following leading roles at Blancpain/Swatch Group, LVMH and Hublot, gave the first of the inspiration talks.

Biver emphasised the importance of staying connected to the future and listening to younger generations. Innovation, he said, comes from being first, unique and different. He illustrated innovation through stories like inventing a scratch-proof gold alloy and using carbon materials, and the fact that making mistakes allow people to learn.

REVIEW AND REINVENT YACHTING

In view of the growing criticism from the public and younger generations regarding its perceived lack of alignment with the UN’s 17 Sustainable Development Goals, the World Yacht Summit emphasised that the yachting industry needs not only a true introspection but also tangible actions to improve its profile.

Following a keynote presentation on the second day by Giovanna Vitelli, Chairman of Azimut-Benetti Group, a wide range of industry stakeholders – including Michael Breman (Lürssen) and Patrick Coote (MarineMax), and designers Dan Lenard (Nuvolari Lenard) and Espen Oeino – delved into the many paths forward. These have been summarised through the acronym SMART: Sustainable, Modern, Attractive, Resourceful, Transformative.

Sustainable: “Sustainability is no longer an option,” said Olivier Wenden, Vice-President and CEO of the Prince Albert II Foundation, who gave an inspiration talk on the second day. “We are at a turning point in human history and questioning the place of human beings on this planet. I think the future of humanity is at stake, not the future of the planet itself.”

Barbara Sanches of DNV supported such sentiments during her keynote on whether the Road to Net-Zero is achievable. Even if yachting generally benefits from a lack of regulatory constraints, the industry must be ready to fail, to learn fast and evolve. The path to net zero is not paved by one silver bullet but by combining practical action today with strategic innovation for tomorrow.

This will enable the yachting industry to transition from reactive compliance to proactive climate leadership, with stronger collaboration between all stakeholders. This was also the message conveyed by Victorien Erussard, Energy Observer’s founder and captain, when he narrated the adventure of his first laboratory vessel that circumnavigated the world without CO2 emissions.

Modern: As well as new, efficient technologies and digitisation, paths to modernising the yachting industry include more transparency and shared information, from technical specifications to self-regulation. The industry can only benefit from following the example of other industrial sectors such as automotive and aviation, with the consumers, especially the younger ones, in need for clear understanding of who does what when business practices are no longer clearly delineated.

The second path of modernisation lies in the development of new yachting destinations, where relevant infrastructure and support services must combine with standardised regulations, while offering lifestyle propositions relevant to the new generations, including of clients and crew.

Attractive: Attracting younger generations requires simplifying processes, promoting the economic value of yachting, and shifting the narrative from ostentation to purpose. This includes showcasing craftsmanship, building memories and making boating feel accessible – ideas strongly supported by university student attendees.

The industry needs to listen to the younger generations, understand their values and expectations, as the clients of tomorrow are becoming the clients of today. Their lifestyles are shifting. Yachting must adapt by offering more flexible, meaningful and sustainable experiences.

Resourceful: There must be positive communication about yachting. Yachting is a vehicle for sharing wealth and creating economic value that benefits the broader community, especially middle and lower-income sectors.

Beyond lobbying yachting to the authorities who define the regulatory frameworks under one single umbrella – like with the EBAA (Europe) or NBAA (USA) in the private aviation sector – the industry must highlight its contributions as it invests in innovation, sustainability and long-term development.

Continuous crew training is also essential, for skilled and engaged crew ensures safety, overall yacht value, and enjoyable yachting.

Transformative: Cultivating yachting culture begins with youth – and sailing. The industry must encourage early exposure to the sea and nature to foster a deep connection with the marine environment.

Introducing new people to the yachting industry should focus on passion, pride and commitment and excellence, with the standards of quality raised across all sectors in yacht building, management and operations. A human-centric approach is key to combine technical excellence with emotional and experiential elements for lifestyle enrichment.

CAUTIOUS OPTIMISM

As explained by Albert Manzone, Deputy COO of Société des Bains de Mer, the long-term renewed success of the Principality of Monaco comes from a combination of key factors such as political and fiscal stability – to foster investor confidence – connectivity and a diversified economy in a safe environment with multi-faceted lifestyles. This recipe for resilience and reinvention is worth exploring for emerging destinations, as well as for the yachting industry.

The final session of the World Yachting Summit offered a reflective dialogue on the future of the industry, framed by ‘cautious optimism’. The discussion highlighted the sector’s reliance on global wealth, with past macroeconomic events like the dot-com bubble, the 2008 financial crisis, and the Covid-19 pandemic causing slowdowns followed by rebounds.

However, the current landscape presents more complex challenges, including geopolitical instability, regulatory pressures and shifting client demographics. The next generation of yacht owners is more sustainability-focused, experience-driven, and less inclined to take on ownership complexities.

A shortage of skilled crew and qualified tradespeople was also identified as a growing concern, with generational shifts in work attitudes affecting yacht operations and craftsmanship.

Discussions also touched on global shifts in wealth and infrastructure development, particularly in the Middle East, which is positioning itself as an alternative winter yachting destination. Yet, many emphasised that the cultural richness, history and lifestyle of the Mediterranean remain unmatched for summer cruising.

While there is an undercurrent of concern about potential market contraction, the prevailing sentiment remained ‘cautiously optimistic’. The conclusion was anchored in the belief that with thoughtful adaptation, and a renewed focus on training, sustainability and client-centric simplicity, the yachting industry can continue to thrive in a changing world.

However, a deeper sense of humility would probably also do the industry some good, with Bernard d’Alessandri, Secretary General of Yacht Club de Monaco, reminding all participants that “when we are at sea, we are guests in a world that is not our own”.

worldyachtingsummit.com