The National Marine Manufacturers Association’s virtual State of the Boating Industry address yesterday featured an overview of the marine market and the presentation of awards.
NMMA president Frank Hugelmeyer announced that the boating industry grew 12 percent during the last year, with more than 300,000 new boats sold and 100,000 first-time buyers accounting for a 13-year high in sales.
Hugelmeyer said the marine sector accounts for $778 billion in gross economic output, supports 5.2 million jobs, and that the boating/fishing segment is a $170 billion contributor to the outdoor-recreation economy.
The full report from Joseph Healy and more from Trade Only Today can be found here.
The boating industry has been extremely fortunate,” he said. “For the most part, the wind has been at our back.”