2023 Forecast for the boating industry :
By Jamie Stafford
TO SOME , 2022 MAY HAVE COME to a close on a low note , as pandemic sales slowed , and a recession took hold . The rapid pace of growth during the collectively known ‘ Covid years ’ had begun to taper off within the recreational boating industry . For others , that taper may appear closer to a nosedive , as consumer sentiment fell and the economy continued to waver . As we look ahead to the future , it would be fair for the boating industry to hold some reservations about 2023 . Yet , while dealers and trade organizations alike predict strong headwinds to navigate , they are also excited about the year to come .
2022 in review
Before we look to the future , it ’ s a good idea to stop and contemplate the past as an opportunity for learning . In many ways , the past year has been huge for the industry . People , desperate to reclaim joy in their lives , turned to boating and new experiences on the water , and found a welcoming and vibrant community waiting for them . And despite the slowdown in the third and fourth quarters , businesses continued to adapt and innovate .
The National Marine Manufacturers Association
Frank Hugelmeyer President , NMMA
( NMMA ) had a particularly landmark year . “ In 2022 , NMMA executed a remarkable recovery from the most challenging and disruptive period in our 43-year history ,” says Frank Hugelmeyer , NMMA President . “ While the marine industry has enjoyed historic boat sales , most trade association revenues have declined due to the postponement of events and boat shows . Fortunately , NMMA has a resilient board and staff , so we weathered the storm while significantly advancing on multiple strategic fronts . That accomplishment was a massive achievement .
Highlights from 2022 include eliminating the EU ’ s and UK ’ s 25 % retaliatory tariff on American made boat imports , launching the new ‘ See You Out Here ’ Discover Boating campaign , creating Discover Boating Miami International Boat Show with our partners at Informa , and driving billions of new federal dollars towards marine industry infrastructure and next-gen investments .”
The organization was also more active than ever in the legislative arena as a vital advocate for the boating industry . “ NMMA was so influential and proactive in our advocacy work that we were invited to the White House seven times in 2022 , which likely is a record for the industry ,” comments Hugelmeyer . Those meetings and events included business strategy sessions on supply-chain shortages and semi-conductors , three Presidential bill signings and the formation of the Federal Interagency Council for Outdoor Recreation that includes multiple Cabinet Secretaries .”
The Marine Retailers Association of the Americas ( MRAA ), another prominent trade organization , celebrated their 50th anniversary in 2022 . “ I believe we ’ re fulfilling our mission today better than we ’ ve ever done ,” says Matt Gruhn , MRAA president .
Other things I would note , in April of 2022 , we sat down with our board of directors and our strategic partners , and we crafted a new three-year plan . We ’ re deeply invested in this plan and just thrilled to get it kicked off and moving forward . In the meantime , we rebranded the organization , new
16 february 2023 www . boatingindustry . com