Saint-Tropez, the glittering Riviera resort favoured by celebrities and the super-rich, is lamenting a decline in the number of yachts berthed at its marina this summer.

Luxury yacht owners tend not to be short of funds, but increasingly they are shunning the Côte d’Azur’s upscale resorts because of prohibitive costs.

Instead of Saint-Tropez or Antibes’ renowned “billionaires’ harbour”, many are choosing less expensive destinations in Italy or Spain, where berthing fees, fuel prices and crewing costs are lower.