The Euro crisis has affected every part of the European economy, even in the rarified market of mega-yacht rentals in the Mediterranean.
A glut of yachts for rent, coupled with the slowing global economy and the Euro crisis, is creating unprecedented bargains in the charter yacht business this summer. Yacht brokers say there are roughly 750 boats over 100-feet long docked on the shores of the Med this summer waiting for customers – twice the number of previous years. And there simply aren’t enough rich customers to fill them.
With prices ranging from $200,000 to more than $1 million a week – not including food, fuel and beverages – demand for these vessels is restricted to the super-rich. But there’s no harm in looking.
Click ahead to see what kind of yacht is for rent at a discount this summer.