Recreational boating, one of the last industries to recover from the financial crisis, rebounded strongly in South Florida during the past year and stands poised to make up even more lost ground in 2015.
The Sun-Sentinel reported that all segments of South Florida’s hefty marine industry are picking up — from the $500,000 to $850,000 boats offered at Tuppens Marine and Tackle in Palm Beach County to megayachts costing millions of dollars each, industry leaders said.
Sales at Tuppens, which offers new and used boats, accessories and services at three locations in Lake Worth and Hypoluxo, rose more than 12% to roughly $8 million in 2014 and could grow by double-digits again in 2015, said vice-president and co-owner Steve Sprague.
“We feel like things are coming alive again,” Sprague said. November and December sales finished “better than expected,” surging more than 20 percent from 2013 levels, he said.
An improving economy, low interest rates, lower fuel prices, a growing Florida population and strong tourism all are contributing to the rebound, which was evident at the Fort Lauderdale International Boat Show this fall – the biggest show since the recession.
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