US Boating On High Speed Recovery

Maritime Activity Reports, Inc.

January 23, 2015

 Picture: National Marine Manufacturers Association

Picture: National Marine Manufacturers Association

 Nearly 89 million Americans went boating last year, one of the largest boating participation figures on record. And the boat sales last year increased to $37 billion, a 3 percent increase from the year before. These figures are released by the National Marine Manufacturers Association, according to a report from Kansas City Star. 

 After several down years in the midst of a struggling economy, boaters are taking to the water like seldom before.
This augurs well for the boating industry. Becca Doyle, show director of Kansas City Boat and Sportshow says that there was some pent-up demand when the economy was down. Now that things are getting better, boat sales are improving and more people are getting on the water.
There are more than 12 million registered boats in the United States. Americans not only are buying more new boats, they are purchasing more used boats, too. More than 955,000 used units were sold last year. 
Boat-loan interest rates ranging from 3 to 5 percent, together with gasoline prices hovering around $2 a gallon, are expected to spur sales, thinks organizers of another event, Minneapolis Boat Show 
In addition to cheap gas and favorable loan rates, pent-up demand for new boats is also driving the marketplace, dealers say, after sales plummeted during the recent recession.
Maritime Reporter Magazine Cover Oct 2019 - Marine Design Annual

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Maritime Reporter E-News subscription

Maritime Reporter E-News is the maritime industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News