AMERICA BOATING MOMENTUM

The National Marine Manufacturers Association (NMMA) in the US reports momentum heading into 2023 as Americans continue prioritizing outdoor recreation in record numbers. Read the full article on Marine Business News here

This may well be a strong sign here locally and 2023 might be expected to be another strong year for the Victorian boating industry.

Some of the highlighted factors were

  • Annual U.S. sales of boats, marine products and services were up 12.7 percent from 2020.

  • It’s not just new boats seeing strong sales; an estimated 1.15 million pre-owned boats were sold in 2021, up 9.2 percent over 2020.

  • The recreational boating industry is an economic driver supporting more than 690,000 American jobs and 35,000 American businesses.

  • Outdoor recreation accounts for 1.9 percent of U.S. GDP, generating $862 billion in gross economic output, of which recreational boating and fishing is the single largest segment with an attributed $50.4 billion, supporting 4.5 million American jobs. (Source: U.S. Department of Commerce, Bureau of Economic Analysis).

  • Recreational boating is a uniquely American-made industry: Ninety-five percent of boats sold in the U.S. are made in America.

  • An estimated 100 million Americans go boating each year.

  • Recreational boating isn’t just for the one percent. Sixty-one percent of boat owners have an annual household income of $100,000 or less.

  • Ninety-five percent of boats on the water in the U.S. are less than 26 feet—boats that can be trailered by a vehicle to local waterways.

Communications