Last year, according to the NMMA, the recreational boating industry saw the largest increase in boat sales in the last 10 years. According to the report, recreational boat sales increased by 5% to 262,000 in 2017.
And on top of pure sales, total expenditures in the marine industry which includes boats, trailers, services, accessories, and more increased by a whopping 7% to $39 billion.
The report states:
“As the strong economy continues to bolster new boat sales and boating expenditures, capital spending and manufacturer optimism are at record highs, creating one of the strongest periods on record for the U.S. boating industry, and a buyers’ paradise with more boats and more options on the market,” said NMMA president Thom Dammrich. “Economic factors such as an increase in GDP, improving housing market, strong consumer confidence, and growing disposable income are spurring demand for new boats. The growth trajectory recreational boating is continuing to see is healthy and steady as the industry works to bring new buyers to the market across all segments, from small aluminum fishing boats to large cruising yachts.”
It’s also estimated that close to 988,200 pre-owned boats were sold in 2017 marking the highest sales year since 2006 totaling somewhere close to $9.3 billion in sales.
Here is a list of the states with the largest growth according to the NMMA’s 2017 Recreational Boating Statistical Abstract.
Florida: $2.9 billion, up 10 percent from 2016
Texas: $1.7 billion, up 12 percent from 2016
Michigan: $982 million, up 12 percent from 2016
North Carolina: $838 million, up 16 percent from 2016
Minnesota: $807 million, up 12 percent from 2016
New York: $735 million, up 4 percent from 2016
California: $718 million, up 14 percent from 2016
Wisconsin: $713 million, up 12 percent from 2016
South Carolina: $637 million, up 12 percent from 2016
Georgia: $632 million, up 11 percent from 2016