Demand for Yacht Rentals Falls

26 Jun 2023

Due to the pandemic, people have not been able to travel like they used to. This has also driven up the rental demand of yachts. Additionally, the number of people taking up lessons to operate yachts has also increased. SP’s SMA observed that the number of students has doubled over the past two years. SMA senior manager Capt Sahwan Osman shared that the number has grown from over 3000 in 2020, to around 9000 in 2021. SMA is the only permitted institution that issues recreational yacht driving licences in Singapore. SMA noted that most of the licensees drive their yachts to neighbouring islands to fish and relax. With the easing of the pandemic restrictions, local residents have been travelling overseas which has also led to a fall in demand for yacht rentals.