Boating, fishing lead recreational activities in economic output - Trade Only Today

Boating, fishing lead recreational activities in economic output

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The Department of Commerce’s Bureau of Economic Analysis released a final, updated report on the economic contribution of the outdoor industry, showing that boating and fishing were the leading outdoor segments in 2016. A press release said that the combined boating and fishing pastimes represented $36.9 billion in economic output.

The Outdoor Recreation Satellite Account study said that boating and fishing had a greater economic output than such sports as golf and tennis ($34.7 billion), recreational vehicles ($30.4 billion) and festivals/sporting events ($23.1 billion).

The outdoor recreation industry had a U.S. GDP contribution of 2.2 percent and annual gross economic output of $734 billion in 2016. That contribution is higher than other sectors, including the mining, utilities and chemical products manufacturing industries.

According to today’s NMMA Currents, the Outdoor Recreation Satellite Account was spearheaded by Sen. Cory Gardner (R-Colo.) and Sen. Jeanne Shaheen (D-N.H.).

“ORSA is critical to the outdoor industry, as it demonstrates in an official capacity the impact of outdoor recreation on the U.S. economy,” said the Currents story.

“As one of the nation’s largest economic sectors, it is critical that our national leaders do everything they can to keep the economic engine running at full speed,” said Thom Dammrich, NMMA president and chair of the Outdoor Recreational Roundtable. “That includes common sense policies to expand public access, modernize infrastructure and remove barriers to efficient and effective public-private partnerships.”

The survey also found outdoor recreation to have a wage-growth rate of 4.3 percent between 2015 and 2016. That was higher than the overall U.S. wage growth of 2.7 percent during the same period.