British Boating Sector Continues to Grow

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.