Palma Alive with Yachting Fever

Thanks, in part, to an uncharacteristically warm spring (not least this weekend, when temperatures are forecast to be a thumping 13 or 14°C higher than usual) Mallorca has already made its presence felt as a global yachting hotspot. In the last few weeks, 105-metre Lady Moura and 75-metre M’Brace have been espied at anchor off Puerto Portals, while Jeff Bezos’ 127-metre Koru conspicuously cruised into Palma for sea trials. Now ranked the world’s largest privately-owned sailing yacht, Koru dwarfed former title-holder 106-metre Black Pearl moored alongside. But it’s not just the fat-cats who’ve been lapping up the blue Balearic waters: kayakers, charter boats, SCUBA divers, dinghy sailors and stand-up-paddlers have all been out in earnest. Rest assured, there’s something to make all of them smile at PIBS 2023.

Boat Show visitors of a more affluent persuasion will head straight to the Palma Superyacht Village where they will find just shy of 70 luxury yachts – split around 60-40 sail-motor – to peruse for sale or charter. These include 55-metre schooner Elena of London on the market with Y.CO for a touch under nine million euros and 27-metre Wally WHY200 Kiki V which can be reserved for 90,000 euros a week through SNS Yacht Charter. A large selection of shoreside exhibitors, including first-class gastronomy, the ever-popular Refit & Repair area and, a new addition for 2023, Innovation Corner, round off the Palma Superyacht Village offering.

Over in the conventional Palma International Boat Show, hundreds of comparatively more affordable boats will be on display - in and out of the water. They rub shoulders with dozens of representatives from all sectors, whether they be water sports, marine audio entertainment, boat accessories, nautical tourism, homegrown fashion or outboard engines. Having fun is thirsty (and hungry) work, and plenty of food and drink stands will be happy to serve light refreshment.

This year, organisers are predicting a bumper edition. While the likes of hospitality and retail are still reeling from the effects of the pandemic, the global yacht industry continues to thrive. The world’s rich are getting richer and, for them, luxury yachting delivers a convenient, stress-free and safe travel experience. Wealth is being generated among the younger generations, particularly millennials, who enjoy increasingly flexible working conditions and nomadic lifestyles, opening up more possibilities for working from home – or the yacht. This cohort is also driving change for green technology, energy efficiency, and alternative fuels, as they aspire to minimise their impact on the planet. Europe continues to be at the heart of this burgeoning sector, with Spain – notably the Balearics – enjoying evergreen popularity. That clients fly into PIBS from as far afield as the United States, Middle East, and Asia, easily supports that testament.