Thankfully, signs are beginning to show that the COVID-19 pandemic is slowing down. Governments are starting to ease restrictions, and businesses are opening back up. The yacht industry will be attempting to follow suit by holding the Monaco Yacht Show in September 2020.
The organizers of the show; Informa, decided to go ahead with the show but with a twist. This year, as a result of the economic effects of the pandemic, the Monaco Yacht Show will be held as a non-profit, as part of efforts to help the yacht industry get back on its feet.
Yachting enthusiasts are no strangers to the Monaco yacht show. It is considered by many to be the ‘world’s biggest superyacht event’. It is usually held in Port Hercule, Monaco. The show serves as a stage for yacht brokers, shipbuilders and designers to show off what they have been up to and hopefully help chart the course for the future of the yachting industry. What’s more, every year, the Monaco Yacht Show attracts more than 20,000 people, reflecting the industry’s international popularity.
As a result of the pandemic, some major players such as the SYBAss (Superyacht Builders Association) and LYBRA (Large Yacht Brokers Association) pulled out of the Monaco Yacht Show, citing the health risks and the increased cost of exhibition to explain the decision. Two weeks later, Informa announced that the show will now go on as a non-profit event.
With a new focus, the show now hopes to bring industry stakeholders together to share ideas whilst aiding the industry to return to normal. Hopefully, this move may be enough to encourage SYBAss and LYBRA to change their minds and attend the show.
Informa said it has put in a lot of effort into making sure that the show upholds the highest levels of hygiene and cleanliness. The government of Monaco, recognizing how important the event is for the city-state of Monaco, is also on board and is helping Informa to ensure that the event is safe and that COVID-19 is kept at bay. The event is slated to be held from September 23 to 26 at Port Hercule, Monaco.
Like most industries affected by the coronavirus pandemic, the yachting industry is no different. The industry has really come to a halt since the beginning of 2020. However, on an uplifting note, there are now less restrictions and regulations on movement when compared to earlier months of the year. The Monaco Yacht Show is an attempt by Informa to help the Yacht industry recover from the effects of the pandemic and the move has been much applauded.
Other industry stakeholders can take a cue from this, and then play their part in helping the yachting industry strengthen itself once again.