Spanish market bounce

Balearics boom as Spanish island chain opens up for non-EU charter boats.

Balearics boom as Spanish island chain opens up for non-EU charter boats.

The Balearics’ charter yachts market is due to get more open and competitive, following a change in local law.

Prior to September, any vessel measuring more than 45ft long needed to be EU-flagged in order to offer charter services in the Spanish island chain, but this restriction has now been dropped.

Local charter company Easyboats has said that this should result in more options for those looking to charter next summer.

Lorenzo Vila, director of Easyboats, said: “Combined with recent positive rulings on matriculation tax, it’s clear that Spain is trying to make things easier for the nautical industry. But it’s too late for this season and it will take some time for us to feel the effects.”

The news comes after Spain announced a 13.27% year-on-year “It is clear that Spain is trying to make things easier for the nautical industry” increase in boat registrations for the first eight months of 2014. Around 90% of Spanish charter business takes place in the Balearics.

Meanwhile, YachtWorld has released its latest Spanish market report. The industry monitor found that while the number of boats sold dropped by 4% through the first nine months of the year, the total value of those sales increased by 13% to €171 million. Contributor Rupert Holmes said: “Although a large chunk of this improvement can be attributed to a strengthening superyacht sector, average prices also increased across most other size ranges.”

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