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Yacht Charter Market to Hit $50b by 2020

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By Dipo Olowookere

It has been predicted that the luxurious yacht charter market will surpass $50 billion mark by the year 2020.

As at 2015, the industry generated about $37 billion.

It is observed that a renewed interest is being witnessed in spending on leisure and entertainment, giving a fillip to the global yacht charter market.

These insights are from “Yacht Charter Market: Global Industry Analysis and Opportunity Assessment 2015-2020” by research and consulting firm Future Market Insights (FMI).

Yacht Charter Market: Drivers and Restraints

The economic downturn of 2007-08 had a dampening effect on the yacht charter market; however, recovery in global economy has revived interest in yacht chartering, with the global market poised to witness annual growth rates of over 6 percent through 2020.

High seasonal pricing, steep taxes, and predatory pricing by unregistered yacht chartered companies are the key challenges that can impede growth of the yacht charter market in the future.

Region-wise Analysis of Yacht Charter Market

FMI’s report has studied the global yacht charter market and segmented it into North America, Latin America, Eastern Europe (Russia and Turkey), Rest of Europe (West, North, and South), Asia Pacific, and Middle East and Africa (MEA).

Rest of Europe (West, North, and South) was the most preferred destination for vacationers and corporate travellers alike, accounting for nearly $12 billion in revenues in 2015.

Popularity of yacht charter destinations, such as Athens, Aegean Islands, Cyclades, Dodecanese, and Ionian Island is a key factor driving the growth of the Rest of Europe yacht charter market.

Eastern Europe (including Russia and Turkey) yacht charter market was valued at $9.6 billion in 2015, and it is expected to expand at over 7 percent CAGR through 2020.

Turkey is the most popular yacht charter destination in Eastern Europe, and is expected to witness high number of vacationers in the near future.

FMI estimates Europe to remain the largest market for yacht chartering during the forecast period. Europe is home to some of the most popular yacht charter destinations and development of new destinations is only going to boost its reputation going forward.

Motor Yacht and Sailing Yacht Forecast

Chartered yachts fall under two broad categories – motor yachts and sailing yachts. Revenues from the sailing yacht segment totalled $29.3 billion in 2015, and this segment is expected to increase at over 6 percent CAGR through 2020.

Among the various types of sailing yachts (Sloop, Schooner, Catamaran, Ketch), Sloop and Schooner account for bulk of bookings. FMI estimates demand for these two sailing yachts to remain high during the forecast period.

Yacht Charter Market Segmentation by Consumer Type – Corporate and Retail

In a bid to study the yacht charter market lucidly, FMI has segmented vacationers into corporate and retail.

Retail yacht vacationers accounted for over $ 16 billion revenues of the global yacht charter market in 2015, representing nearly 70 percent revenue share. Bookings by corporate consumers is expected to pick up in the future, increasing at a higher CAGR than retail consumers.

Social Media and Native Advertising Gaining Traction Among Yacht Charter Providers

Leading players in the global yacht charter market are focusing on brand positioning and adoption of latest entertainment features, such as WiFi, LED and OLED screens, exquisite range of cuisines and liquor to gain a stronghold in this robustly expanding market. Use of social media platforms, such as YouTube and Facebook is also growing among yacht charter owners, with native advertising gaining traction as part of the marketing strategy.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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Travel/Tourism

FAAN Launches Energy Efficient Shuttle to Support Abuja Airport

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FAAN abuja airport electric cars

By Adedapo Adesanya

The Federal Airport Authority of Nigeria (FAAN) has unveiled 30 airport electric shuttle which will be used to complement airside and landside logistics.

The shuttle, which comprises 10 vehicles and 20 saloon cars, will cost N10,000 per passenger from the Nnamdi Azikiwe International Airport, Abuja to the City Centre.

Speaking at the event, the governing board chairman of FAAN, Mr Abdullahi Ganduje, said: “Electric vehicles offer clear operational and environmental benefits. They are cleaner, quieter and more energy-efficient, significantly reducing carbon emissions and helping FAAN minimise its ecological footprint. Their use will contribute to healthier airport environments and a more comfortable work and travel experience.

“From a logistics standpoint, electric vehicles also enhance monitoring, coordination and compliance. Their predictable performance and lower maintenance demands improve operational planning, accountability and service reliability. Ultimately, this translates into more efficient, transparent and passenger-friendly services.

“This initiative directly supports global sustainability targets, including International Civil Aviation Organisation’s goal of achieving net-zero carbon emissions by 2050. By embracing electric mobility, FAAN is positioning Nigerian airports to remain competitive, responsible and future-ready.”

Mr Ganduje pledged the commitment of the board to ensure that the initiative is utilised, maintained, and expanded to other airports in the country.

On her part, the managing director of FAAN, Mrs Olubunmi Kuku noted that the agency has secured approval to deploy 100 electric vehicles to operate as airport shuttles at Lagos and Abuja airports.

“We have secured approval to deploy 100 Electric Vehicles (EVs) to operate as airport shuttles at both Murtala Mohammed International Airport, Lagos, and Nnamdi Azikiwe International Airport, Abuja. It is a monumental step towards greening our operations and reducing our carbon footprint.”

“We proudly begin this journey with the first phase: the launch of these 10 state-of-the-art electric shuttle buses. They represent more than just transport; they symbolise cleaner air, quieter terminals, and a to pioneering sustainable infrastructure in Nigerian aviation”.

She expressed optimism that the initiative would be replicated across all airports in the country.

The head of Fleet Operations of Possible EVS, Mrs Abimbola Gyer while stating that the transport fare would be subsidised for passengers, added that operations would commence from 7am to 7pm daily.

“We partner with NEV Electric, the manufacturer of the electric buses. We would be moving passengers from the airport to the city centre at the rate of N10,000 and as demand continues, we will expand our hub. The operations will start from 7 a.m. to 7 p.m daily,” she noted.

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Quickteller Travel Secures IATA Certification

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Quickteller Travel

By Modupe Gbadeyanka

The travel and tourism service powered by Interswitch, Quickteller Travel, has been issued a certification from the International Air Transport Association (IATA).

With IATA certification, Quickteller Travel is now fully equipped to connect African travellers to global destinations, support airlines and partners with reliable distribution and settlement, and set a new standard for trusted, digitally enabled travel across the continent.

The IATA accreditation reinforces Quickteller Travel’s operational credibility, compliance standards, and ability to deliver secure, efficient, and globally recognised travel services.

It also strengthens the platform’s positioning as a reliable partner for airline bookings, corporate travel management, and end-to-end travel solutions across Africa and beyond.

The certification is a milestone that places the brand among a global network of trusted and accredited travel service providers.

This achievement comes at a time when Africa’s travel and tourism sector is experiencing renewed growth, driven by increased business travel, regional connectivity, and digital adoption.

With IATA certification, Quickteller Travel is poised to offer individuals, SMEs, corporate organisations, airlines, and other travel stakeholders a seamless digital experience, supported by Interswitch’s trusted payment infrastructure.

Integrated into the broader Quickteller and Interswitch ecosystem, Quickteller Travel combines global accreditation with local insight, offering African travellers and businesses a secure, seamless, and digitally empowered experience.

The Vice President for Transport Ecosystem at Interswitch, Ms Nnenna Ajanwachuku, said, “The IATA certification is a strong validation of Quickteller Travel’s operational standards, governance, and commitment to excellence. It enhances trust for travellers, corporate partners, and global airline stakeholders who rely on accredited platforms for secure and transparent travel transactions.

“For Interswitch, this milestone reinforces our mission to build technology-led solutions that unlock access, simplify commerce, and connect Africa to the global economy.”

Ms Ajanwachuku added that the approval would enable Quickteller Travel to deepen partnerships with airlines and travel service providers while offering customers greater confidence, choice, and value.

“Quickteller Travel is not just a booking platform; it is part of an ecosystem designed to make travel more accessible, reliable, and digitally enabled for Africans. Powered by Interswitch’s heritage of trust and innovation, we are building a platform that meets global standards while responding to local travel needs,” she said.

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Emirates, Air Peace Enhance Seamless Global Connectivity

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Emirates Air Peace

By Modupe Gbadeyanka

Two key players in the Nigerian aviation industry, Emirates and Air Peace, have activated a bilateral interline agreement aimed to expand air connectivity between Africa, the United Arab Emirates (UAE), and London.

The two airline operators are building on their existing partnership to offer their passengers frictionless, single-ticket travel and with through-checked baggage, on select routes, resulting in greater travel comfort and convenience for customers.

Beyond the 13 cities in Nigeria already available for Emirates passengers on Air Peace’s network, the enhanced interline agreement now enables travellers to connect with Banjul in Gambia and Dakar in Senegal, both via Abidjan; and with Freetown in Sierra Leone and Monrovia in Liberia, both via Accra. The additional gateways allow more passengers in Africa to access Emirates world-class product and services, and vast global network.

The agreement allows Air Peace to connect its extensive West and Central African route system into Emirates’ hub in Dubai, and on key destinations including London Heathrow, London Gatwick and London Stansted, Abidjan, Accra and, of course, Lagos.

With huge demand for travel between Nigeria and the United Kingdom,  providing Air Peace passengers with increased choice, flexibility, and global reach.

Emirates operates a Boeing 777-300ER on its Dubai-Lagos route, providing travellers with one of the best experiences in the sky.

Passengers can dine on regionally inspired multi-course menus developed by a team of award-winning chefs complemented by a wide selection of premium beverages, while tuning in to over 6,500 channels of global entertainment – including Nollywood classics – on ice, Emirates’ award-winning inflight entertainment system.

As one of only two airlines operating a First Class cabin into Nigeria, Emirates offers an unrivalled travel experience defined by comfort, privacy and luxurious touches.

With a fleet of over 50 aircraft including Boeing 777s, Boeing 737s, Embraers, Air Peace operates an expanding network of domestic, regional, and international services, connecting major cities across Africa and beyond.

The airline remains committed to strengthening intra-African connectivity, supporting trade and tourism, and contributing meaningfully to economic development across the continent.

“Enhancing our interline partnership with Air Peace allows us to expand our footprint across more of Africa, creating new opportunities for people to fly better with Emirates, while helping international tourists explore more of the region, via Lagos.

“We remain committed to working with strategic partners such as Air Peace to further strengthen Nigeria’s aviation, tourism and trade sectors,” the Chief Commercial Officer for Emirates, Mr Adnan Kazim, said.

His counterpart at Air Peace, Nowel Ngala, while commenting, said, “This interline agreement with Emirates represents a major step in Air Peace’s strategic vision to connect Africa more efficiently to global markets.

“By combining our strong regional presence with Emirates’ extensive international network, we are delivering seamless connectivity, improved travel experience, and greater access to key global destinations for African travellers. This partnership further reinforces Air Peace’s role as a critical bridge between Africa and the global aviation ecosystem.”

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