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The yacht rental market has rapidly grown while experiencing diversification and becoming one of the fastest-growing sectors across the globe. Modern tourism is expected to develop and encompass a growing number of destinations. The demand for yacht rental is rising with the growth of the tourism industry. The tourism yacht industry is introducing new strategies and planning, such as partnerships with corporates companies, insurance companies, and universities, to reduce the percentage of single-occupancy vehicles. The number of foreign tourists is expected to rise exponentially in developing countries. This is expected to offer tremendous opportunities to the tourism yacht rental players and further fuel the market growth over the forecast period.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis Rapid urbanization, increase in globalization, rise in disposable income, and growth in the tourism industry drive the yacht rental market over the forecast period. Moreover, strict government regulations regarding emission in various developed and emerging countries are anticipated to hamper the growth of the market. Furthermore, introduction of green vehicles and hybrid vehicles is expected to offer lucrative opportunities for the market growth in the coming years.
The yacht rental market trends are as follows:
Developing cities have been the main centers of learning, culture, and innovation. Rapid increase in population in many countries has resulted in rapid urbanization across the globe. The desire to explore new places among people has boosted the tourist industry for years now and it is expected to boost the tourism yacht rental market over the forecast period
Developed countries provide many relaxations of taxes to their people, which increased the total personal income of an individual. In addition, governments in many countries are encouraging their people to travel around their respective country to explore their historic places, thereby boosting the tourist industry. Therefore, this is expected to boost the tourism yacht rental market over the forecast period.
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