Yachting, Wealth, and Uncertainty - A reflection from us at AG Advisory since the start of 2026
- Apr 6
- 4 min read
Anthony Galea
AG Advisory
Recent global wealth management research shows that political and geopolitical uncertainty does not fundamentally weaken demand for passion-driven luxury assets among high-net-worth individuals (HNWIs). Instead, it reshapes motivations, expectations, and buying behavior. This conclusion emerges consistently from leading global studies, including the Capgemini World Wealth Report (2024–2025), the Knight Frank Wealth Report (2024–2025), the Julius Baer Global Wealth & Lifestyle Report, and behavioral finance research published in the Journal of Wealth Management.
2026 has started with discouraging news as we witnessed a new war, and a failure to settle existing wars in Ukraine, Israel and other countries. The continued loss of life and tragedy of the persons directly affected by these conflicts weighs heavily on everyone’s mind. The mood is bleak and the economies of the world are again in turmoil. It affects HNWI and their decision making. It weighs on their advisors minds as the discussion on these current affairs stems during every conference, meeting, or gathering we have attended in the last weeks.
Notwithstanding, the uncertainty and business disruption, including that directly affecting our industry in the form of the oil prices and disruption to the supply chain, studies conducted by specialized agencies and their analysts provide us with hope.
We delved deeper into a few such reports and here is some encouraging and interesting data and thoughts:
The studies above mentioned highlight a common psychological shift among HNWIs during periods of instability. While individuals with €20–50 million in net worth possess significant financial power, it appears they increasingly recognize their limited ability to influence global political outcomes, elections, or geopolitical conflicts. As highlighted by Capgemini, this realization encourages a transition from return-maximization towards goals-based and emotionally informed wealth management, where capital is used to secure quality of life, autonomy, and personal fulfillment. During a recent event in London we attended, speakers commenting on the superyacht market and the HNWI international community, confirmed that individuals having such wealth, and perhaps even those surpassing the 50 million net worth, having the ability of purchasing yachts over 50m, have remained active in the superyacht market. This is our experience too over the last 12 months. Therefore the uncertainty may have effectively driven clients at the top end of the spectrum to commit to the superyacht market.
In support even the Knight Frank Wealth Report notes that even amid volatility, family offices and private investors continue to allocate capital to tangible assets, particularly those that provide lifestyle and experiences.
Insights from Capgemini and the Journal of Wealth Management sought to demonstrate that emotional drivers intensify during crisis periods. Wealthy individuals increasingly prioritize present enjoyment, family time, and lived experiences over deferred consumption. In this context, a yacht represents more than a luxury object; it functions as a private, mobile environment offering freedom, control, and psychological security in an uncertain world.
We next shift our focus to another segment of the market. In truth our concern was greater when considering the 15-35m segment, typically priced between € 1-15million. In the last 2 years, for various reasons, this market has undoubtedly struggled as new build orders and transactions slowed down. We were involved in a lot less transactions involving yachts in this segment then we were accustomed during this period. The last weeks seem to militate in favour of the findings of the Capgemini report so that clients seemingly have settled into this 'new normal' are also looking to purchase yachts in this segment, and have stopped putting off or deferring their decisions.
In our opinion financial institutions and generally lenders have also recognized this behaviour and after many years where we witnessed a dearth of options in the yacht finance market, we now see new or old players going the market. Perhaps such institutions are motivated by other economic or financial considerations but their decisions have also contributed to the current reliance in the yachting market.
A last valuable insight, one we also feel reflects our recent experiences, highlights that uncertainty does not eliminate demand—it increases selectivity. Buyers have become more deliberate and informed, research further and look around. The result favours established shipyards, proven partners and service providers, known markets, transparent operating costs, and shorter delivery timelines, including brokerage or semi-custom solutions. This aligns with findings from Julius Baer, which indicate that HNWIs seek confidence, clarity, and reliability when committing capital during volatile periods.
Overall, the consensus across global wealth studies points to a clear outcome: political and geopolitical uncertainty does not suppress interest in yachting. On the contrary, it reinforces demand among serious, lifestyle-driven buyers who view yachting as a controlled, emotionally rewarding response to an unpredictable global environment—one that allows them to enjoy life, preserve autonomy, stay safe, and create lasting personal value/memories regardless of external events.
It all augurs well for the upcoming months. The Shows in the early months of the 2026 continued to confirm that transactions are being sealed on the higher end of the market, less so on the lower end. Lets hope that solutions are also found at political and international level as we look forward to the coming months.
AG Advisory, is an experienced and trusted service provider to the yachting community.
