Yachting in Rhode Island Brings $220m Economic Impact

The economic impact of Rhode Island’s yachting industry was $220 million, according to preliminary results from the 2012 Northeast Recreational Boater Survey sponsored by SeaPlan, an independent non-profit ocean science and policy group.

The Warwick Beacon said the report was one of 3 developments — a symposium and the release of 2 surveys — that occurred between early April and May 2013. The 2013 Southern New England Recreational Fishing Symposium in Warwick was hosted in April by the Rhode Island Saltwater Anglers Association in conjunction with the URI Coastal Institute, followed by a new for-hire — charter and party boat — economic impact study by the National Oceanic and Atmospheric Administration’s regional research center.

NOAA’s estimate on the annual economic impact of recreational fishing in Rhode Island totaled $179 million. In the Northeast, the impact of the for-hire industry was estimated at $334 million, and preliminary data from the 2012 Northeast Recreational Boater Survey indicated that the economic impact of recreational boating could be as high as $220 million in Rhode Island, according to The Warwick Beacon.

The data show that it is in the best interest of Rhode Islanders to advocate for the yachting industry, recreational fishing, the environment and fish that live in the waters because they have a significant impact on residents.