Recreational Boating has over a $1 billion impact on Virginia’s economy
Virginia Marine Trades Association
April 23, 2013
Filed under News
RICHMOND, VA (April 23, 2013) – The Virginia Marine Trades Association (VMTA) released a study showing that recreational boaters spend nearly $1.3 billion annually on boating in the Commonwealth. Over 40 percent of those dollars are spent on trip-related activity like gas for the boat, fuel, lodging, and meals at local restaurants. All of this money spent on enjoying Virginia’s waterways mean jobs for thousands of Virginians.
In fact, the recreational boating industry directly employs nearly 5,000 Virginians and contributes to another 4,000 jobs related to boating. This means that recreational boating supports nearly 9,000 jobs in Virginia.
The Virginia Marine Trades Association requested the study. The research was completed by Tom Murray at the Virginia Institute of Marine Sciences (VIMS) with the College of William and Mary.
“The main reason VMTA requested this study was to quantify the economic impact the industry has in the Commonwealth,” said Tom Murray, author of the study. “We expected that the impacts were large, and the study confirms those expectations. As in most studies such as this, we strive be conservative in the various underlying assumptions, so these results may be considered conservative estimates.“
The Virginia Marine Trades Association (VMTA) is a non-profit trade association organized to promote and support Virginia’s recreational marine industry. The members are comprised of dealerships, boatyards, builders, marinas, sales brokers, boating service providers, marine technicians, and individuals. Together, we are committed to the development of the marine industry and the strength of each member business. For more information, visit http://www.vamarinetrades.org.