The number of new recreational yachts being registered in the Balearics fell by 17.65 percent during the first quarter of this year while at a national level, the slump was as sharp as 28 percent in comparison to the same period last year.

However, despite the drop in the Balearics, the region continues to dominate the market with a near 15 percent share.
Barcelona, which enjoys the second largest share of the national market, has reported a 55 percent downturn in yachts being registered this year and the market is extremely concerned about the sharp decline in trade.

The Secretary General of the National Association of Nautical Businesses, Carlos Sanlorenzo, said yesterday that the industry is very concerned. “The recent scrapping of the matriculation tax has given us some room to be breath but over all, the recreational fleet is shrinking year-on-year and that is leading to jobs being lost and less revenue for the nautical industry right across the board.”

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