Superyacht Activity Increases in the Balearics
A significant increase in the number of superyachts chartering in the Balearics has been recorded, following a new law that was passed in 2013, which allows charter yachts of all sizes to claim exemption from a 12% matriculation tax while operating in Spanish waters.
The full impact of the new legislation, which was passed by the Spanish government, could only now be analysed, with the Spanish Superyacht Association revealing that the number of yachts with a licence to charter in the Balearics has increased by 516% in the last two years.
In total, the number of superyachts in the Balearics has risen from 29 in 2013 to 85 in 2015. Of these 85 yachts, 37 measure over 35 metres in length.
Such a rise in superyacht activity has had an extremely positive effect on the local economy with the association estimating that these vessels have generated a net revenue of €12.5 million through tax and local spending.
The report also states that there are 600 superyachts available for charter in the Mediterranean and anticipates that 100 of these will be registered for charters in Spain in time for the 2016 summer season.
Spain’s most popular cruising grounds, the Balearics, are comprised of four islands with golden beaches and beautiful bays but each with their own distinct personality. Mallorca offers dramatic landscapes, seafront dining and high-end marinas such as Port Adriano and Port Andratx, whereas the more tranquil Menorca features unspoiled landscapes and low-key towns and villages.
Meanwhile, Formentera, the smallest of the archipelago, provides an unbeatable coastline and delicious seafood restaurants as Ibiza exudes glamour and abounds with vibrant nightlife.
Recently put in the spotlight on an episode of Channel 5’s How the Other Half Lives, presented by Eamonn Holmes and Ruth Langsford, Ibiza was revealed as the destination of choice amongst wealthy holidaymakers looking for an exclusive and luxurious retreat. And, indeed, the island is able to cater for the elite with five-star restaurants, designer shops and prestigious events, all set against the backdrop of inviting beaches and glorious Mediterranean sunshine.
Therefore, together with the new legislation, it’s clear that the Balearics is one of the top up and coming destinations for a yacht charter vacation.
If you would like more information on planning a luxury yacht charter in Spain, please contact your preferred charter broker. Or, browse and compare all superyachts available to charter in the Balearics.