When high net worth individuals travel, they travel in style. Private jets are the transport of choice for the world’s wealthy and these super rich flyers are jetting into the Caribbean in droves — providing a boost not only to the tourism sector, but also the aviation market.
Flying in
According to analyst firm Knight Frank, author of the annual Wealth Report, several of the most popular island locations for private jets are in the Caribbean. The Bahamas came out on top in the group’s 2018 survey of island destinations, welcoming almost 16,500 private jet arrivals that year. Another popular choice was Barbados which saw a 35 per cent increase in arrivals from 2017 to 2018 to reach a total of 1,190. By contrast, 395 private jets flew into Saint Lucia last year.
Most private flights into the Caribbean originate in the US, which is unsurprising given its proximity and wealth. North America has more than five times the number of private jet registrations than the next highest region (Europe), according to the Wealth Report 2018.
Global private jet charter firm PrivateFly services several Caribbean destinations and says its most popular are St Maarten, Puerto Rico and the Bahamas. Other hotspots in the region include St Kitts and Nevis, Barbados and the Dominican Republic. A one-way trip from Miami to St Maarten can cost around US$20,000 with a PrivateFly jet and from New York to St Maarten up to US$35,000.
Disruptors
But you don’t have to be a movie star or a banking magnate to afford your own private jet. In recent years, smaller charter operators have entered the market, driving down prices and making a private flight within reach of middle class travellers.
Tech disruptors have also taken to the skies, launching crowdfunding and Uber-esque apps to spread the cost of flying privately. US-based app Blade allows users to charter a flight and crowdsource the remaining seats. If they are not filled, Blade will sell the unused seats through the app and credit the user’s account with tokens that can be used for future flights.
And there’s a host of other apps, such as Blackbird, which allows would-be private jet passengers to search for spare seats on charter flights, ensuring they can scoop up tickets for a fraction of the price and with no hidden fees or charges. US-based Victor, whose Caribbean destinations include the Bahamas, St Maarten, Antigua and Barbuda and Saint Lucia, offers Empty Leg flight alerts which can save passengers up to 75 per cent off the standard price of a one-way fare.
As the sector opens up and becomes more accessible, private jets are less about luxury and more about convenience. With ever-escalating security protocols at airports, delays and queues, passengers are simply looking for an easier and more convenient way to get from point A to point B.
PrivateFly CEO Adam Twidell says: “Usually clients choose private jet charter for the convenience; a lot of islands have smaller airports that commercial airlines don’t service — or require several stops. So while it may seem like a purely luxury-minded rationale, private jet charter also is often driven by the value of time.”
Tourism take-off
In the Caribbean, travelling by private jet is the perfect, stress-free way to sightsee. According to a 2019 PrivateFly poll, two of the top ten most scenic airports in the world are in the Caribbean: Saba and St Maarten. Gliding onto these destinations’ runways may be a bucket list item, but the Caribbean as a whole is prized by pilots for its stunning views. The turquoise seas, scattered white sand islands and year-round perfect weather are the ultimate draw for charter passengers.
Twidell says: “The Caribbean is always a strong destination year-round for private jet clients. The region is particularly appealing in the winter months as an escape from the cold — which coincides with the main yachting season for the region. A lot of our clients tend to book multi-island trips via yacht charter.”
Private charters are a boon to the region’s tourism product, not least because they further the image of the islands as an ultra-glamorous vacation destination. Whether hopping on a private flight to board a luxury yacht, or flying into a secluded tropical resort, high net worth tourists are good for business and good for the brand.
“Private jet charter allows clients the ease and flexibility of accessing the smaller islands that are often harder to reach by airline. Also, if an island or resort is positioning itself as an ultra-luxury destination, the mode of transportation also factors into the overall perception,” says Twidell. “There’s also a huge amount of opportunity for the Caribbean to expand its tourism base to the ultra high net worth set. We see a lot of consistent growth in demand for the Caribbean so, as the islands continue to develop, we expect to see even more.”
But if destinations are to reap the rewards of these high-flying travellers, certain standards must be met. The islands capitalising on the private jet market are those with enough infrastructure and capacity to satisfy demand. Twidell says: “Often it’s the well-established islands with good infrastructure and well-known luxury resorts that get a lot of the private jet traffic. So, to encourage the market to visit, investing in the infrastructure is a basis on which to launch a marketing push to draw people’s attention to the island.
“Also, a lot of islands are restrictive just by nature of the length of runway or hours of operation. For example, we receive a lot of last-minute requests for private jet charter, often at odd hours, so, operationally, there are a few areas where flexibility is key.”
