It is estimated that the most affluent people in the world invest billions of dollars in yachts each year. A yacht is a symbol of luxury, wealth and class. A beacon that a lot aspire to. However very few manage to own and maintain one. It is a non-necessity, which is why rich people strive to own one.
For one, a yacht offers an element of privacy like no other, enabling wealthy people to treat themselves and their loved ones to a unique holiday, away from prying eyes. Such yachts can be used to explore the Mediterranean at one’s leisure and comfort. You can go through different parts of the world in private, enjoying the trip with close friends, as you experience the most beautiful coasts in the world.
Smaller boats nowadays are equipped with kitchens, restrooms, bedrooms and dining areas, ensuring maximum comfort and that all needs you may have are catered for. Some come even with a bar to enjoy with your friends! Basically, you can compare it with a floating house.
Others buy yachts as a form of business investment to entertain clients they make good money from. For business purposes and client entertainment, however, it would make more sense to rent a yacht for a standard fee. Obviously renting a yacht makes it more accessible without breaking the bank! For one, you can opt to rent a yacht for an event or holiday. Imagine spending time with your loved ones on a yacht for a week instead of a cruise! You can enjoy all the privacy you need.
Obviously, with the grandeur of owning a yacht, there are equal disadvantages. One of the main disadvantages are the costs related to maintenance. Expenses relating berthing fees, yearly maintenance, its security and insurance are hefty regulars. One also needs to factor in the cost of gas, where unless you own a sailing yacht, a simple trip will cost hundreds. And that is if you remain in Maltese waters. Another disadvantage is the limited usage due to weather conditions. A yacht is mainly used in the summer with favourable weather conditions, so in winter months, you are restricted. In addition to this, you will need to cater for cleaning, which is no easy task.
Millionaires say that no matter how many villas they own, expensive cars and parties they attend to, nothing feels better, or compares to the precious moments spent on their boat.