COVERSHIP : Embracing the Greek Yachting Market : An opportunity for collective growth

Monaco, April 12th 2024

Greece, the powerfull shipowning nation, holds a significant role in the global maritime industry.

Its legendary shipping legacy is backed by impressive figures: over 5,000 registered shipowner companies, $100 billion in commercial vessel assets, and a commanding 21% of the global fleet, which also constitutes 60% of Europe’s fleet. Geographically blessed with four seas and over 6,000 islands, Greece’s intimate knowledge of maritime challenges is unparalleled, as demonstrated by iconic figures such as Onassis and Niarchos in yachting history.

In recent years, Greece has overtaken France and Italy to become the top destination for yachts, both commercial and private. In 2023, the Greek Ministry of Tourism’s strategic emphasis on yachting as a pillar of tourism growth reflects the sector’s burgeoning importance to national economic prosperity. Marine tourism is a key industry, contributing €1.016 billion in revenue and supporting 43,626 jobs.

However, the Greek yachting sector faces its share of hurdles. A shortfall in marina infrastructure, high operational costs, bureaucratic challenges, and unlegible trade tax environement are significant barriers. However, these challenges are not isolated—many European yachting communities share similar issues.

At COVERSHIP, we recognize these dynamics and see the opportunity in joining forces with the right Greek partner to foster mutual growth. Together, we will aim to support sustainable yachting and, through our insurance services, help preserve Greece’s beautiful scenery.

Our participation in the Mediterranean Yacht Show (MEDYS) for the second consecutive year underlines COVERSHIP dedication to establishing a strong presence in the Greek market.

Please see our partnership offer on LinkedIn and for any question please liaise with Covership Managing Partner Vincent Huens de Brouwer vhuens@covership.

COVERSHIP : Embracing the Greek Yachting Market : An opportunity for collective growth