PHOTO COURTESY NMMAA National Marine Manufacturers Association economic impact study revealed a 36% increase in annual economic activity from $170 billion in 2018 to $230 billion in 2023. It also reported a 14% jump in marine industry jobs from 691,000 in 2018 to 812,000 in 2023.
Research firm John Dunham and Associates conducted the study.
“Recreational boating and fishing are a major economic engine in the U.S., and the latest economic analysis underscores the extraordinary growth and demand our industry has experienced coming out of the pandemic,” NMMA president Frank Hugelmeyer said in a statement. “The profound impact the past few years have had on our industry cannot be denied, as we’ve seen Americans seek out boating and fishing in record numbers, driving significant economic output and supporting tens of thousands of small businesses and nearly a million jobs.”
POPOVATETIANA - STOCK.ADOBE.COMThe states with the highest economic activity and job growth from boating are:
• Florida: $27.2 billion, up 33% from 2028; 109,000 jobs, up 19%
• California: $15 billion, up 33% from 2018; 48,000 jobs, up 18%
• Texas: $10.6 billion, up 56% from 2018; 38,000 jobs, up 47%
• Michigan: $10.2 billion, up 60% from 2018; 45,000 jobs, up 45%
• New York: $8.6 billion, up 22% from 2018; 34,000 jobs, down 8%
• North Carolina: $8.2 billion, up 66% from 2018; 28,000 jobs, up 39%
• Wisconsin: $7.3 billion, up 107% from 2018; 35,000 jobs, up 101%
• Georgia: $7 billion, up 80% from 2018; 27,000 jobs, up 80%
• Washington: $6.9 billion, up 16% from 2018; 23,000 jobs, up 1%
• Minnesota: $5.9 billion, up 121% from 2018; 25,000 jobs, up 137%
The industry sold more than 260,000 new powerboats and more than 1 million pre-owned boats in 2022. Approximately 61% of U.S. boat owners have an annual household income of $75,000 or less, and the majority of the 12 million registered boats (95%) are smaller than 26 feet and are trailered.
