The UK’s leisure marine industry has achieved its sixth consecutive year of growth, according to research conducted by British Marine. Industry revenues increased by 3.4% in 2017, rising to £3.12bn, their highest level since the financial crisis of 2007/08. The sector directly contributed over £1.3bn to the UK economy between March 2016 and April 2017, while supporting over 33,000 full-time-equivalent jobs in the UK’s manufacturing and service industries. And while UK productivity remains sluggish compared to its G20 rivals, the marine sector continues to perform at above-average levels in comparison with other UK industries, with an estimated gross valued added output per worker of over £39,000
Business confidence in the industry has also continued to increase over the last six months, with a net balance of 41% of British Marine members feeling positive about their future prospects.
The UK Marine Industry Trends (June 2017 – November 2017) report is available to British Marine members to download from the publications section of the British Marine website at: https://www.britishmarine.co.uk/Resources.