LaurenceU: Europe was already acknowledged and the sailcover in the foreground certainly implied the Adriatic. The second boat beyond that seemed to have Sunsail colors (e.g., red sun cover on the genoa) which pointed to the cruising grounds near Dubrovnik (Sunsail's Adriatic base). Then it was a matter of checking Google Earth for harbors that weren't very built up and then drilling down on photos posted until the buildings on shore matched. It didn't take all that long.
Next challenge: This fountain is located by a famous harbor. Name the harbor and--if you can--the name of the fountain.