Turkey is a country with great potential from a yachting perspective, surrounded on 3 sides by water (the Aegean Sea is to the West, the Black Sea to the North and the Mediterranean to the South – but there are also the Sea of Marmara, the Dardanelles and the Bosphorus Strait).
According to research conducted by IBIS World, the pleasure boat and yacht building sector in this country ranks eighth in Europe in terms of revenues achieved in the last year (590-million-euro turnover); there are currently 548 companies active in the pleasure boat sector.
Initiatives to encourage international tourism and investment
According to 6Wresearch, the yacht market in Turkey will grow at a CAGR of 13.7% between 2025 and 2031. This trend is influenced by the thrust of the Turkish government, which has provided extensive support to the country’s coastal tourism industry, creating initiatives to encourage international tourism and investment in this sector.
One such initiative was the tax exemption for foreign-flagged yachts visiting Turkey for up to two years, offering financial benefits to charter companies and yacht owners. The government’s initiative to develop nature tourism and sustainable tourism will further impact nautical tourism in Turkey. Although challenges such as political instability, economic recession and the pandemic have been faced in recent years, the Turkish yacht market has proved strong. Luxury yacht chartering activities in the Mediterranean are also on the rise.
Focusing on eco-friendliness
In line with government initiatives, Turkish operators are increasingly focusing on eco-tourism, offering sustainable yachting itineraries to enhance the country’s natural beauty and coastal landscapes.
This change is influenced by consumers’ growing environmental awareness, which is pushing manufacturers to innovate with green technologies such as hybrid propulsion systems and eco-materials.
Also on the rise is the trend towards personalisation, with customers seeking unique, bespoke experiences and designs that reflect their personal style and preferences. The advent of digitisation in the yacht industry, including virtual reality showrooms and online platforms for charter and sale, is also reshaping the way customers interact with services, making the market more accessible and efficient.
Considering the length of yachts, there is growing interest in yachts longer than 50 feet, suitable for entertaining guests in luxury and comfort.
The future of the Turkish yacht market is promising. The country’s government will continue to work to simplify this industry by easing restrictions and providing support to yacht builders and operators. In addition, efforts to expand the tourism industry will continue and attract more yacht buyers and charterers.
Turkish Yacht & Boating Industry Association (YATED)
In Turkey, too, there are associations aimed at supporting those working in the boating industry. One of these is the Turkish Yacht & Boating Industry Association (YATED), founded in February 2000 in Istanbul by a number of Turkish manufacturers, importers, dealers and distributors of sailing boats, motorboats, boat engines, marine equipment and accessories, as well as service providers. By June 2025, the number of active corporate members was 256. YATED’s objectives include:
- to bring together industry members into one organisation;
- to identify the problems of yachting and maritime tourism;
- to exchange information with relevant government bodies to solve identified problems;
- to set standards for industry members and assist them in achieving them;
- to overcome trade barriers that hinder the development of the maritime market in Turkey and international trade;
- to promote yachting and develop a love for the sea, particularly among the younger generation.
YATED owns and organises two boat shows, the National Boat Show at sea in October and the International Boat Show on land in February under the brand name ‘Bosphorus Boat Show’. YATED also sponsors and supports regional boat shows organised in Turkey’s coastal regions. The association also aims to take the Turkish yachting industry and related services to the highest international level, with a commitment to preserving Turkey’s nature, coastline and seas in the most effective, efficient and environmentally friendly manner.
Turkish Shipbuilders’ Association (GISBIR)
A further industry association is GISBIR (the Turkish Shipbuilders’ Association), founded in July 1971 by shipyard owners. This organisation represents the Turkish ship and yacht building, repair and maintenance industry. Improving the Turkish shipbuilding industry, helping Turkish shipyards to succeed on the world market, finding solutions to shipbuilding problems through the relevant authorities, associations and organisations, and representing the Turkish shipbuilding industry nationally and internationally are among GISBIR’s missions.
Ship and Yacht Exporters Association of Turkey
The Ship and Yacht Exporters Association of Turkey, on the other hand, was established in April 2010 under the auspices of the Istanbul Exporters Association. It deals with issues related to the export of vessels.
Turkish Chamber of Navigation (TCS)
Also worth mentioning is the Chamber of Navigation of the Istanbul and Marmara, Aegean, Mediterranean and Black Sea Regions, also known as the Turkish Chamber of Navigation (TCS), a professional maritime organisation with headquarters in Istanbul and branches in other cities. Established in 1982 by a group of Turkish shipowners, today its members include operators active in every nautical field, including those involved in design, shipbuilding, equipment, maintenance, repair and services for the yacht industry. The objectives of the Turkish Chamber of Navigation include carrying out research in the nautical field, establishing practical rules on navigation, improving transport and trade activities on the sea, contributing to the professional development of operators in the nautical field, and fostering communication and cooperation with the authorities in the field of navigation and with international organisations.
TURKEY – STATISTICS & FACTS
ECONOMIC INDICATORS
GDP growth
- +1% in Q1 2025
- +1.7% in 2024
(Source: Trading Economics)
GDP growth per capita (2024)
- + 15.47%
(Source: Worldbank)
High Net Worth Individuals
Turkey has emerged as the world’s leading country for the growth of the ultra-wealthy population in 2023, according to a report by Knight Frank, a UK-based property consultancy. The report, which compares data from 2022 to 2023, defines ‘ultra-rich’ as those who have assets over $30 million. Among 30 countries surveyed, Turkey took the top spot with an increase of 9.7%. In 2022, Turkey had 1,761 ultra-high net worth individuals, a figure that rose to 1,932 in 2023.
(Source: Knight Frank)
Turkey – retail expenditure (May 2025)
- 17,2%
(Source: Trading Economics)
Consumer Confidence (July 2025)
- index points: 83.5
(Source: Trading Economics)
Unemployed (May 2025)
- 8,4%
(Source: Trading Economics)
New cars sold (June 2025)
- 122,508 units sold (+12% over June 2024)
(Source: Marklines)
NAUTICAL MARKET INDICATORS
- Revenues generated in the yachting sector last year: 590 million euros in sales.
- Turkey ranks eighth in Europe in terms of revenues from the construction of recreational boats and yachts.
- Enterprises active in the yachting sector: 548
(source: IBIS World)
Main yachting operators active in Turkey:
- Naviera Yacht Charter
- Imperial Yachts
- Dream Journey Yachting
- Flybridge
(source: 6Wresearch)
| Units registered in Turkey | |
| Sailing Units | 12370 |
| Motor units eb or efb | 35293 |
| Motorised fb and hard drives | 40572 |
| TOTAL | 88235 |
