The National Marine Manufacturers Association (NMMA) announced today that the recreational boating industry is continuing to grow despite poor economic conditions.
The boating industry has seen it’s ups and downs in the last 10 years but new figures suggests the 3.2% increase in retail expenditure in the marine industry will generate a healthy 2014 summer growth. This growth stems from the powerboat and sailboat retail sales increasing by 10.7% in 2012/13 and is predicted by the NMMA to increase an additional 5-7% in 2014.
The NMMA released these findings as part of its U.S. Recreational Boating Statistical Abstract, an in depth investigation into the state of the U.S. recreational boating industry, which is to be released in June this year.
The President of the NMMA, Thom Dammrich commented, “As the nation’s economic recovery matures and boating businesses prepare for summers peak selling season for recreational boats, accessories and services, we expect to see continued stable growth in sales.”
These figures come alongside Enterprise Florida’s announcement of $60.5 million increase in marine industry export sales in the last 9 months. “Florida has a very strong base of established marine companies,” said Secretary Swoope of Enterprise Florida. “Recreational boating had a $10.3 billion impact in Florida in 2012 and we expect it to continue to lead the US as the largest state for marine activity”.
The NMMA’s 2013 Recreational Boating Statistical Abstract can be downloaded and purchased within the Statistics section’s Research Library on NMMA.org beginning June 1, 2014.