Brunswick is forecasting sales growth of 25 percent in China this year, as boating becomes more popular in a nation that's growing wealthier, CEO Dustan McCoy said.
"We believe the long-term potential in the marine business is larger than anywhere else in the world," McCoy said in an interview with Bloomberg. "There is so much wealth here it is unique. Boating culture will take hold very strongly."
Government attempts to clean up the country's lakes, a growing appreciation of family-oriented leisure pastimes and rapidly increasing prosperity are driving demand for all kinds of boats, from dinghies to yachts, said McCoy, who was attending a luxury fair in Hainan.
Lake Forest, Ill.-based Brunswick sold about 55 boats to China last year, accounting for 35 percent of the 180 boats smaller than 40 feet that were imported into the country.