Monaco charts the course: Key takeaways from the inaugural World Yachting Summit

The first-ever World Yachting Summit in Monaco delivered a powerful blend of innovation, sustainability, and strategic vision as industry leaders charted a new course for the luxury yachting sector.

Monaco’s emergence as the premier global yachting hub took center stage during the summit. Deputy COO of Monte-Carlo Société des Bains de Mer, Albert Manzone, outlined the Principality’s formula for success: political stability under 700 years of Princely Family leadership, strategic connectivity, and economic diversification. This holistic approach has transformed Monaco into what Mr. Manzone called “a world-class luxury destination” offering valuable lessons for emerging markets.

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Bernard D’Alessandri, General Secretary of the Yacht Club de Monaco, reinforced Monaco’s position as more than just a luxury harbour. The YCM has expanded beyond traditional member services to embrace education, innovation, and sustainability initiatives like the Monaco Energy Boat Challenge and the SeaIndex – a tool developed with UBS that measures CO2 emissions and offers incentives for eco-friendly vessels.

Navigating industry challenges

“Cautious optimism” characterised the summit’s assessment of the yachting industry’s future. While the sector shows resilience with a global market valued at $55 billion in 2024 (projected to reach $68 billion by 2030), it faces significant headwinds: regulatory pressures, shifting demographics, and increased scrutiny over environmental impact.

Industry experts highlighted the critical need for unified lobbying efforts to reshape public perception. In a panel titled “How to Lobby Yachting: Turning a Vilified Industry into Positive Perception,” speakers stressed the importance of following private aviation’s model of centralized advocacy, proposing a European-wide lobbying body to promote sustainability and coordinate messaging.

The sustainability imperative

Olivier Wenden, Vice-Chairman & CEO of the Fondation Prince Albert II de Monaco, delivered perhaps the summit’s most resonant message in his keynote: “Sustainability is definitely no longer an option. We are at a turning point in human history.” He emphasised that the crisis is fundamentally “a human issue” requiring urgent action from the private sector.

This sentiment echoed throughout technical sessions where experts explored realistic paths to decarbonisation. Rather than waiting for perfect solutions, the industry must pursue immediate gains through energy efficiency, retrofitting existing vessels, and smarter onboard systems.

Giovanna Vitelli, Chairwoman of Azimut Benetti Group, called for transparency and standardised metrics in her keynote on “Sustainability: Use & Abuse.” She highlighted her company’s achievements of up to 40% emissions reductions through practical technologies like hull optimisation, hybrid propulsion, and renewable fuels.

The future client experience

As wealth transfers to younger generations, the summit revealed a profound shift in luxury preferences. The panel on “Yachting’s New Lifestyle Propositions” described a move away from ostentatious consumption toward “slow yachting” – focusing on meaningful experiences, wellness, and environmental connection.

America leads demand in the evolving charter market, with clients increasingly seeking personalised, experience-driven voyages. Digital platforms are simplifying yacht rentals while emerging destinations like Turkey and the Red Sea gain popularity alongside traditional Mediterranean favorites.

The summit concluded with a commitment to reconvene in Dubai in 2026, reflecting the industry’s expanding global horizons while maintaining Monaco’s position as the spiritual home of luxury c innovation.