Last week, the National Marine Manufacturers Association (NMMA) released updated economic impact data for the recreational boating industry in 2012 at its American Boating Congress event in Washington, D.C. The event enables American boating industry leaders to discuss issues affecting the recreational marine industry with US senators and policy makers.
NMMA's Center of Knowledge contracted with the Recreational Marine Research Center at Michigan State University to update the 2008 Economic Value of Recreational Boating at the State and Congressional District Level. Each state and district datasheet includes the total annual economic value of recreational boating, the number of recreational boating industry businesses, total jobs, and annual recreational boating-related spending.
Highlights of the US economic impact facts include:
• The recreational boating industry has a total annual economic impact of $121.5 billion in the US.
• There are nearly 35,000 recreational boating-related businesses across the country providing more than 338,000 jobs.
• Each year, Americans spend $51 billion related to the more than 12 million registered recreational boats in the country.
NMMA Canada held an event similar to its American counterpart on May 1. It shared its most recent Economic Impact Study with MPs and policy makers on Parliament Hill in Ottawa. The Canadian study outlined the $8.9 billion revenues and $5 billion GDP impact generated by recreational boating in 2012.