After Hurricane Ian forced the cancellation of last year’s show, the International BoatBuilders’ Exhibition & Conference opened yesterday in Tampa, Fla., with more than 900 members of the industry attending the opening breakfast.

“I’m delighted to be standing here before all 900-plus of you,” IBEX director Anne Dunbar said.

The show has 714 exhibitors and more than 9,000 preregistered attendees, of which 30% are professional builders. There are 40 boats on the docks of the Tampa Convention Center, and more than 50 educational seminars are scheduled over the three-day event.

The first speaker Dunbar introduced was Stephanie Vatalaro, senior vice president of marketing and communications for the Recreational Boating & Fishing Foundation. “Our mission is to increase participation in fishing and boating,” Vatalaro said. “We exist to help you bring in new customers.”

Vatalaro said bringing women into fishing presents an opportunity for the boating and angling industries. “Increasing female participation in fishing and boating isn’t just a feel-good thing — it’s good for business,” she said, adding that increasing the number of female anglers by 10% could result in a $1 billion boost in revenue.

Next up was NMMA president Frank Hugelmeyer, who gave an update on the state of the boating business. “Overwhelmingly, boating and fishing remain the largest contributor to the outdoor economy,” he said. “Outdoor recreation generated $862 billion in economic impact, which is 1.9% of the U.S. GDP.”

Hugelmeyer acknowledged that uncertain economic times are challenging segments of the industry, especially entry-level purchases, and estimated that sales will flatten compared with 2022. “Gone are the days when we have little or no competition,” he said. “We are in an environment where we’re competing for every recreational dollar.”

He highlighted the recent success of the Discover Boating program, which has introduced 2 million new boaters to dealers and provided $11.8 million in public relations value for recreational boating.

On the advocacy front, Hugelmeyer pointed to the lingering trade war with China and the Section 301 tariffs that have been headwinds to international sales of U.S.-built boats, engines and accessories.

He pointed out that the biggest threat to boating remains the proposed whale-protection speed limits by the National Oceanic and Atmospheric Administration, which Hugelmeyer called “misguided” and the “greatest threat to access to public waterways.”

“Our industry can be passionate about protecting wildlife while being vehemently against restrictive speed limits,” he said. NMMA anticipates that the rule will be overturned before the end of the year and encouraged the attendees to engage their congressional representatives.

Wrapping up his address, Hugelmeyer presented veteran NMMA team member John McKnight, senior vice president of environmental health and safety for the organization, with the Charles F. Chapman Award. The honor recognizes an individual for dedication and contributions to the boating industry.

Since joining NMMA in 1994, McKnight has been at the forefront of industry regulations and managing technical products for industry members. He led the research into the damage caused by E15 fuel and was instrumental in developing alternative marine fuels.

“He’s steadfast in relying on the science and best research to yield solutions,” Hugelmeyer said.

National Marine Representatives Association president Aaron Freeman presented the Mel Barr Award to John Bender, national sales manager for the marine division of CRC industries. Bender has more than 30 years in the boating industry.

The Mel Barr award was created in memory of Mel Barr, an independent marine rep and one of the founders of NMRA and its first president.

The final speaker of the morning was Connar Lokar, a senior forecaster at ITR Economics, who presented a sobering look at the economy and the boating industry, titled “Piercing Through the Noise.”

Lokar stressed the importance of companies not sitting back and riding out difficult economic conditions. “We are forecasting a mild recession for 2024, a speed bump, a normalization,” he said. “The growth rates that started in the second half of 2020 and carried through the last year were largely not sustainable.”

Lokar was quick to add that there will be a turnaround in 2025 and that there are ways the industry can take advantage to be better positioned for the future. “It’s going to alleviate the largest pain points in our business — inflation, supply chain and labor,” he said. “We are going to see all those things become easier to manage over the next five to six quarters.”

He said the supply chain shouldn’t be an excuse for problems come 2024, and that the biggest challenge dealers will likely face in 2025 is increased inventory and reduced demand. “The businesses that are going to get in trouble in 2024 are going to be the ones that budgeted for 2021,” Lokar said.

Looking ahead, he encouraged attendees to be proactive, to retain talented people and to prepare for improvement. “Use this breather in 2024 to get the house in order,” Lokar said. “We’ve been keeping things together with rubber bands and Band-Aids in the last two years.”