The year 2022 has been a rocky road for many, given the number of happenings in the world. From the lingering effects of COVID-19 to the Russia-Ukraine war, the fuel crisis, a wave of natural disasters, the global economic slowdown, inflation rates, and much more.
In detail, the events had taken a toll on the economy as spending has considerably decreased. Consumer spending has been mostly limited to just necessities. It means that the demand for wants and luxuries has dropped.
However, in recent months, despite the global economic “slowdown,” demand and sales for a few products, such as makeup, care, and beauty products, continued to increase. And Real Research surveys revealed that this was due to the trends seen on social media that have significantly contributed to consumers’ purchasing power.
Shockingly, the sale of another lavish product rose exponentially despite the current global turmoil– Superyachts. Superyachts are generally luxurious spending, one that consumers would not necessarily splurge on during turbulent times. However, this year’s 31st annual Yacht Show in Monaco presented an entirely different scene. Reports from the show suggest that the combined value of all the superyachts is at least $3.8 billion. As for the crowd, an “astounding” spectacle of the wealthy appeared.
The numbers left many wondering how this was all possible in times of turbulence. Johan Pizzardini, head of communications and media for the Monaco Yacht Show, remarked that this was likely because the market for yachts is rather “niche’ and showed ‘very little signs of slowing down despite turbulent times.’
To probe the causes for this, Real Research launched a survey on boom of superyacht sales despite global turmoil. Hurry and answer the survey on the Real Research app from October 08, 2022. After that, you will receive 30 TNCs as a reward.
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