It’s an estimated $37 billion industry that’s popular from New York to California, Minnesota to Texas. All you need is an ocean, lake, pond or river — and a craft to motor, sail or ski on it.
The Post & Courier reported that recreational boating has been catching waves in the past few years, buoyed by a steady national economy that’s boosting disposal incomes.
Powerboat sales were looking to shoot up 6% last year from 2016, according to the National Marine Manufacturers Association (NMMA) and the forecast for 2018 is another 5% to 6% percent rise. Contributing factors include continually improving consumer confidence and boat manufacturers rolling out marine craft to lure in younger boaters.
“The close of 2017 marked our sixth consecutive year of growth in new boat sales and recreational boating expenditures, and we expect that trend to continue through 2018, and possibly beyond,” said NMMA President Thom Dammrich. “On the horizon, if economic indicators remain favorable to the recreational boating market with strong consumer confidence, a healthy housing market, rising disposable income and consumer spending, and historically low interest rates, the outlook is good for boat sales.”
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