Italy’s marine trade association, Ucina, said that total marine sales for the country are expected to rise 9.5 percent for 2018 compared to the previous year. Its boat and yacht builders reported sales increases of 10.7 percent last year for the entire sector.
The trade association released the preliminary figures at its annual general assembly in Rome in late December.
Ucina reported last September that Italian shipyards, marinas and equipment manufacturers countrywide had sales of $4.47 billion (€3.88 billion) in 2017, up 13.5 percent from the previous year. Ucina did not release a final industrywide revenue figure for 2018, but an almost ten percent gain would push 2018 sales to about $4.9 billion.
Italy’s boating industry has reported six years of consecutive growth in sales from its low point in 2013, when it reported $2.88 billion (€2.5 billion). In 2007, the industry had record sales of $7.1 billion (€6.2 billion).
During the assembly’s private session, the association revealed a market forecast for the boating industry in 2019. About 63 percent of member companies predicted an increase in sales for 2019. Fourteen percent expect an increase over 10 percent, while another 14 percent expect sales gains between 5 and 10 percent. The association said another 35 percent predicted sales increases of up to 5 percent.
Nearly 30 percent of the companies expect 2019 to be a stable year, while 9 percent predict a contraction in sales compared with 2018.
“The industry over recent years has experienced an impressive and consolidated recovery,” said Carla Demaria, UCINA president, in a statement. “Businesses have once more placed their trust in the favorable winds of the sector, due in part to the excellent sales figures seen during the leading international boating shows, which have demonstrated the awakening of the European and Italian markets.”
The final figures for Italy’s boating industry will be released next September at the Genoa International Boat Show.