Recreational Boating: a $121-billion Economic Driver for U.S.

MarineLink.com
Tuesday, June 11, 2013

The National Marine Manufacturers Association (NMMA), announced that recreational boating in the U.S. has an annual economic value of $121 billion. The industry’s rising tide supports 964,000 American jobs and 34,833 businesses, generates $40 billion in annual labor income and drives $83 billion in annual spending.

The NMMA, on behalf of the U.S. boating industry, released these findings today as part of its annual U.S. Recreational Boating Statistical Abstract, a collection of data and analysis on the state of the U.S. recreational boating industry. Additional data highlights include:

New Boat Sales
-Retail sales of new power and sailboats increased 10.7% in 2012 to 163,245, demonstrating a post-recession recovery for the industry.
-New powerboat sales increased 10% to 157,300 in 2012.
-New sailboat sales increased 29.2% to 5,945 in 2012.

Trends
-Small fiberglass and aluminum outboard boats 26 feet or less in size, continued their upward climb with an 11.3% increase in the number of new boats sold. Outboard boats are the most popular type of new powerboat sold, making up approximately 82% of the market.
-Ski and wakeboard boats are seeing healthy growth with an increase of 13.4% new boats sold in 2012.
-Jet boats, which are small fiberglass boats less than 26 feet in length, are a growing category. Of the 157,300 new powerboats sold in 2012, 4,500 were jet boats. New jet boat sales increased 36.4% in 2012.

What’s Ahead
Sales of new powerboats have remained steady during the first half of 2013 and continued growth is expected with the summer boating season. NMMA anticipates sales of new powerboats to grow 5% in 2013.

“Summer is a peak selling season for recreational boats, accessories and services throughout the U.S. as people look for ways to disconnect from the daily grind and enjoy fun times on the water, “ said Thom Dammrich, NMMA president. “New boat sales have historically been a barometer for the U.S. economy and the steady sales increases we’re seeing is being reinforced by the slow uptick in consumer confidence, housing and spending. As economic growth continues, we anticipate sustained steady growth through the remainder of 2013.”

Boating Participation
Of the estimated 232.3 million adults in the U.S. in 2012, 37.8%, or 88 million, participated in recreational boating at least once during the year. This is a 6% increase from 2011 and the largest number of U.S. adults participating in boating since NMMA began collecting the data in 1990. Recreational boating participation has steadily increased since 2006.

Helping People Discover Boating
Growing participation is a priority for the recreational boating industry as it drives new boat sales. Boat manufacturers, dealers, marinas, and other marine organizations joined together to form Discover Boating, a consumer program to grow participation and create a positive boating experience. The North American effort provides resources to help those interested in boating get started and promotes the fun of the boating lifestyle through a national marketing campaign.

www.nmma.org

Maritime Reporter May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

US Funding for Air Emissions/Alternative Energy Projects

The U.S. Maritime Administration (MARAD) announced that up to $1.3 million in Federal funding is now available through cooperative agreements for projects supporting

WCI Applauds Increased USACE Funding

Today WCI applauded the leadership of Senate Appropriations Committee Chairman Thad Cochran (R-MS) and Senate Energy & Water Development (E&WD) Appropriations Subcommittee

Shipping Freight Rates Drop Amidst Overcapacity

Shipping freight rates on the world's busiest route, from Asia to Northern Europe, fell by the largest percentage amount since 2008, reflecting wild volatility

News

DMW Marine Takes the Lead in Military Cranes

DMW Marine Group, LLC. has completed a number of projects for the U.S. Navy and foreign Navies in recent years, claiming a place as a go-to supplier for Navy departments globally.

US Oil Platform on Fire in Gulf Of Mexico

An oil platform caught fire and was evacuated in the U.S. Gulf of Mexico offshore Louisiana in the early hours of Friday, though no injuries were reported, the U.

USCG Tall Ship Sailing to the Bahamas

The U.S. Coast Guard Cutter Eagle is scheduled to arrive at Berth 14 at Prince George Wharf in Nassau, Bahamas on Thursday, May 28 as part of its 2015 cadet summer training deployment.

Yachts

Two Rescued from Vessel Aground North of Cuba

Two American sailors whose vessel ran aground approximately 25 miles north of Gibara, Cuba, were rescued by the U.S. Coast Guard (USCG) Friday. Watchstanders

Torqeedo Introduces New Deep Blue Inboard

Torqeedo now offers a shaft drive version of its 40 and 80 horsepower Deep Blue motor. An electric drive designed for marine use from the ground up, the Deep Blue inboard shares the safety,

USCG Stresses Importance of Free Vessel Safety Checks

As National Safe Boating Week continues, the Coast Guard 9th District is reminding boaters Sunday to get a free vessel safety check from the Coast Guard Auxiliary

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Ship Repair Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1200 sec (8 req/sec)