UK Boating Improvement

BMF reports 'signs of improvement' for UK boating

By IBI Magazine

Confidence is returning to the UK leisure marine industry according to the British Marine Federation, which announced future trends and 2008/2009 figures at the London International Boat Show.

Prospects for the next six months have improved, with only 12 per cent of respondents to the BMF's latest trends report now saying that they perceive the future negatively, compared to 23 per cent in spring 2009 and 38 per cent in autumn 2008.

Workload and order book value has also increased over the last six months and workforce levels are also now more stable.

In 2008/2009 the UK leisure and small commercial marine industry grew its total revenue by 1.9 per cent to £3.16bn, though the BMF points out that the Value Added Contribution — the principal measure of national economic benefit — was down 4 per cent to £1.042bn.

International trade was up 13.6 per cent in 2008/2009 to £1.248bn, or 39.5 per cent on the industry's total revenue.

The number of people employed by the sector fell during the period by 2.5 per cent to around 34,300.

Chief executive of the BMF Rob Stevens said in a statement: "We know that we cannot be complacent, and for many companies there may still be difficult times ahead, but we must also acknowledge that through hard work and sound business decision making the industry is well-poised to continue to grow in the future."

(12 January 2010)