Monaco Yacht Show at Risk
Industry

Monaco Yacht Show at Risk

Two of the largest superyacht organizations have announced that they will not be exhibiting
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The Monaco Yacht Show 2020 was to be the first non-virtual post-coronavirus yachting exhibition. The organizers until the last one have stated their intention to hold the event on its usual dates and in the usual format, but with the proviso that the final decision will be taken closer to September after assessing the current situation with COVID-19.

However, the future of the MYS 2020 is now in jeopardy with two major superyacht associations - the SYBAss (Superyacht Builders Association) and the LYBRA (Large Yacht Brokers Association) - saying they will not bring their yachts to Monaco at the end of September.

Among the reasons for this decision are the uncertainty about travel restrictions, the desire not to endanger the health and safety of customers and the inability to comply with the mandatory measure of social distance during the exhibition.

SYBAss and LYBRA members are not without reason afraid that the financial benefits from contracts concluded during the exhibition will not cover the costs of participation. In their opinion, now is a good time for the organizers to involve key industry players in jointly developing a new business model that will suit everyone. This position of the association was announced in a letter to the Monaco Yacht Show, a copy of which was available on the Superyacht Times portal.

The SYBAss has 20 of the largest yacht yards specialising in megayachts. These include Feadship, Lurssen, Oceanco, Heesen, Nobiskrug, Benetti, CRN and Abeking&Rasmussen, all of whom have previously brought new yachts over 50 metres in length to the Monaco Yacht Show. The biggest brokers Burgess, Frazer, Edminston, IYC, Y.CO form the backbone of LYBRA.

On 30 April, the organisers of the Monaco Yacht Show said that only 5% of the previous show had refused to exhibit in Monaco this year. According to a survey carried out by the Superyacht Times, 47% of industry figures surveyed said they were confident that the exhibition would take place and 45% were planning to visit, after making sure that security measures were in place.

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