Monaco Yacht Show Report

Monaco Yacht Show 2021 Show Report

So how was the first major superyacht show of 2021? 

In the run up to the event, we experienced a lot of mixed press. Complaints about the ticket prices, comments on the increased health requirements and reservations from some of the major players all meant that likely a good percentage of regular attendees chose to miss this years’ show out. 

However there were also a lot of optimists about the show, keen to reconnect after 2 years of show drought, SYR included. The resounding feedback we received throughout the 4 days however, was that it was a great show and that the quality of connections was far above that of previous years. Fortune favours the brave!

   SYR sent Ed and Mimi to the event this year, aiming to cover both technical and non-technical clients. Meetings split across existing and potential clients, the team worked through hectic diaries to network and develop relationships and to confirm new business as we approach what is traditionally one of our busiest times of year

September saw a steady increase in new vacancies through our doors, with businesses continuing with renewed optimism following their summer breaks. However with a few more weeks to really assess requirements, key meetings were able to take place and we are now able to look up to 6 months ahead with our clients requirements, this key forward visibility giving us the best chance to find the strongest candidates in a market that is currently light on applicants. 

Some of the biggest requirements we’ve seen are in brokerage and charter, with vacancies in the UK, EU, Asia and the US all being discussed at various levels. These will form part of a major project for Q4 2021/Q1 2022 for Mimi, our in-house brokerage expert. 

Looking to technical recruitment, we’ve also held critical meetings with shipyards looking to scale up, both in the UK and Europe. With the demand for skilled trades and production leadership currently the highest it’s ever been, we’re building international relationships for labour supply in order to meet requirements. 

Whilst of course scheduled meetings are a big part of the show, a lot more business was conducted on the water or in one of the many monegasque eateries. One of our most loyal clients treated us to a trip out into the harbour to see the various craft at anchor and another laid on breakfast in order to discuss a very health project of future recruitment, leaving us excited and charged to achieve what we think will be a record final quarter and a fitting end to the first year for SYR

Stepping away from recruitment for a moment, the quality of yachts on show was also incredible. Some of our highlights included the first tender from Falcon Tenders, the incredible Artefact, the Maori 80 and Path, the latest super sailor from Baltic Yachts. Yards are working hard to innovate too, with more and more electric powertrains, hybrids and foiling craft on show, identifying a clear nod towards making superyachting more sustainable, a key point of discussion this year. 

We’re more excited than ever as to what the next 12 months will hold for the industry and look forward to attending MYS2022

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