Virginia Yachting Association Touts Boating’s Economic Impact

The Virginia Marine Trades Association (VMTA) released an economic study showing that recreational boaters spend nearly $1.3 billion annually on boating in the commonwealth. More than 40% of those dollars are spent on boating trip-related activity, such as gas and diesel for owners’ boats, lodging and meals and drinks at local waterfront restaurants. All of this money spent on enjoying Virginia’s waterways mean jobs for thousands of Virginians, the VMTA said.

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 trade group requested the economic study. The research was completed by Tom Murray at the Virginia Institute of Marine Sciences 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,” Murray said in a statement. “We expected that the impacts were large, and the study confirms those expectations. As in most studies such as this we strive to be conservative in the various underlying assumptions, so these results may be considered conservative estimates.”