A Glittering Review: The Monaco Yacht Show's Impact on the Future of Luxury Yachting

Despite the drizzling Monte-Carlo weather, the Monaco Yacht Show unfurled its sails to another year of extraordinary luxury and innovation on water. A perennial hotspot on the yachting calendar, this year’s spectacle was crowned with launch announcements, philanthropic recognitions, and ambitious sustainability initiatives set to steer the future of the industry. Lighting up the event, The Honours 2024 celebrated three individuals championing extraordinary projects. Frédéric Jousset, founder of the Art Explora Foundation, received accolades for crafting the world’s largest floating art museum. Nick Entwisle, the visionary behind Yachting Gives Back, won plaudits for his remarkable efforts on tackling hunger and poverty in one of Spain’s most popular sailing destinations, Mallorca. Then there was Mike Horn, the explorer behind the awe-inspiring Pangaea X project, celebrated for engaging the youth in global environmental and social powerhouse initiatives. Shifting gears to design and engineering, Ferretti Group made grand splashes with two world premieres. The audience witnessed the debut of the wallywind110 – GALMA, a carbon fibre sailing yacht, alongside the Custom Line 50 Asante, boasting the distinction of being the first all-aluminium yacht in their under-500GT range. In an impressive industry move, the construction of the Riva 70 Metri was also announced, set to be the largest vessel ever built by Riva. A captivating discourse between industry bigwigs Giovanni Pomati, CEO of Nautor Swan, and Massimo Perotti, CEO of Sanlorenzo, created quite a stir as they highlighted their collective future plans centred on innovation, sustainability and shared goals. Heesen’s presentation of the 62-metre Project Monte-Carlo swivelled heads. Owing to its aluminium superstructure, steel hull, and state-of-the-art serial hybrid propulsion system, the Project Monte-Carlo captured the very essence of innovation in yachting. Heesen did emblemise bullish market trends, forecasting a record-breaking revenue of €230 million with their clutch of 12 yachts under construction. The Mishi 102, a 31-metre sailing yacht, raised eyebrows at the show, as it beautifully emulsified practical design elements with proficient sailing performance. From its harmonious sail-flow to its aerodynamic hull, this yacht proved to be an icon for future sailing masterpieces.