Boating Industry Association Reports Strong Growth

The Boating Industry Association (BIA) has released its latest State of the Industry Data Report, revealing a noteworthy national turnover of $10.12 billion for the fiscal year 2023-24. This represents a 5% increase from the previous year, underscoring the sector’s resilience and growth despite recent economic uncertainties.

Report Launch and Boating Industry Vitality

The report was launched on the first day of the Sydney International Boat Show, highlighting the ongoing vitality and expansion of the Australian boating industry. BIA President Adam Smith commented on the findings, saying,

“The latest data clearly illustrates the boating industry’s strength and its capacity to flourish even amid economic challenges. The 5% increase in turnover is a strong endorsement of the industry’s robustness and adaptability.”

Marine Industry Employment and Business Landscape

Smith also pointed out that the industry now supports approximately 27,500 direct jobs and an additional 8,250 contractor roles across more than 2,000 businesses nationwide. “It’s notable that 75% of these businesses are small, family-run operations deeply rooted in their local communities. These enterprises not only offer significant employment but also play a vital role in boosting regional economies through tourism and recreational boating,” Smith added.

Diverse Marine Sector and Growing Enthusiasm

The boating sector encompasses a wide range of professions and services, including designers, manufacturers, importers, brokers, insurers, retailers, charter operators, yacht and boat clubs, marinas, and various trades from boat builders to riggers. This diverse network supports a growing base of boating enthusiasts and features a broad array of both local and global brands.

Key Boating Statistics from the Data Report

Australia is home to over 2.5 million licensed powerboat operators and nearly 1 million registered vessels. In addition, the country has a multitude of non-motorized craft, such as paddle and sailboats, which do not require registration or licensing. Key statistics from the data report include:

•  1 in 10 Australians holds a boat license
• More than 970,000 boats are registered
• Personal watercraft account for 10% of registered vessels, making it the fastest-growing segment
• 85% of boats are under 6 meters in length
• 60% of boating trips last up to 4 hours

Advanced Data Intelligence

The report also leverages data intelligence from BIA Boating Data, powered by DECKEE. This advanced platform processes over 6 billion real-time and historical data points, offering crucial insights into boating trends. These analytics help businesses and organizations achieve key economic, safety, and environmental objectives.

Download the full industry data report on Yacht and Boat Australia here or view boats for sale online.