BMF Announce Positive Marine Industry Growth
The British Marine Federation (BMF) have just released a report that estimates that the UK marine industry and spend associated with boating participation impacted the economy by £6.2 billion in 2012/13.
The BMF also suggested current trends are pointing towards further industry growth. The discovery was announced at the BMF’s annual conference at the Merseyside Maritime Museum in Liverpool. The event brought together representatives from all over the UK leisure, superyacht and small commercial marine industry.
The BMF were able to further celebrate the Economic Benefits of the UK Boating Industry, by announcing it supports around 141,000 full time (FTE) jobs. Although the impressive figures are representative of 2012/13, the BMF's Industry Trends Report (November 2013 – May 2014) confirms that the industry is stronger than it was in 2013, which is encouraging news for everyone involved in the UK marine industry.
Current business activity suggests a return to pre-recession profit levels. Looking at the stats, the industry’s recovery from the recession is gradual, but the big UK boat shows act as a good indicator of industry progression. With 97% of space already sold for the upcoming PSP Southampton Boat Show, confidence is building within the industry.
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Image Credits: BMF
Article by Jack Bartrop