Friday, June 1, 2012

Boating Industry Shows Signs of Recovery

New data from the National Marine Manufacturers Association (NMMA) reveals the beginning of a recovery for the boating industry. U.S. retail sales of recreational boats, accessories and marine services increased 6 percent in 2011, marking the industry’s first retail sales increase since 2006. Boating participation also increased by 10 percent (to 34.8 percent of adults), marking its highest level since 1997.

“Pent-up demand for boats following years of diminished willingness to spend by consumers, improved credit availability for buyers and boating businesses, positive shifts in consumer confidence and an overall interest in the benefits of the boating lifestyle are steering the industry toward recovery,” said NMMA President Thom Dammrich. “Americans’ passion for enjoying the boating lifestyle is taking precedent as they put aside concerns about the economy in favor of creating lifelong memories with loved ones.”