New data from the National Marine Manufacturers Association (NMMA) show 88 million Americans expected to take to U.S. waterways this summer.
According to a press release, NMMA reported 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 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. (Note that this number includes inboard, outboard, sterndrive, jet and sail boats).
• New powerboat (inboard, outboard, sterndrive and jet boat) sales increased 10% to 157,300 in 2012.
• New sailboat sales increased 29.2% to 5,945 in 2012
“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.”