Australia’s boating industry shows signs of post-COVID recovery

The last financial year will be one many in the industry will be keen to put behind them and turn their attention to how they can tap into an Australian market keen to substitute interstate and international travel experiences with ones closer to home.

Domenic Genua, the marketing, events and communications manager at the Boating Industry of Australia, said how quickly parts of the industry were recovering from strict coronavirus lockdowns introduced in late March to control the spread of the virus depended on who you spoke with.

“One business is reporting that the loss of Australian boat shows will see them drop as much as 40 per cent of their turnover this year,” Genua told boatsales.com.au.

“Others are lamenting the lack of quality second-hand stock at all price levels.

“Others have been bitten a little by the fact that some factories slowed production at the beginning of COVID-19 that is now seeing a shortage of stock to sell,” he said.

However, he said overall the anecdotal evidence form the Australian and international markets was that sales were doing “very well” in the industry.

“Why? Who knows,” Genua said. “However, some are saying that the inability to travel is pointing people to localised leisure, others are saying that the lack of boat shows has bought forward typical boat show sales to this time of the year.

“The fact is that the boating industry, anecdotally, is benefiting from a surge in demand across many of the segments.

“What will be our challenge is to ensure that the upsurge is converted into ongoing momentum.”

In Victoria, where lockdowns to control the spread of the pandemic were the most severe of any state or territory, Boating Industry Association of Victoria chief executive Steve Walker said signs were positive despite the impact of the lockdown.

He said the initial stages of the lockdown were a disaster for the industry, and at one stage it looked as though things could get worse.

"But they [the Victorian marine industry] survived that period and the premier opened up recreational activities with the outdoor activities with small groups and social distancing," Walker said.

"Firstly things picked up and then they strengthened."

However, Walker said some sectors of the industry were still doing it hard in the wake of the COVID-19 pandemic, and everyone was still taking a wait-and-see approach to what was likely to happen when the tap for federal government funding for workers affected by the pandemic switched off in a few months' time.

"But right at the moment, it's a lot, lot better than we'd feared."

In the US, one of the largest boating markets worldwide, high-end motor yacht sales have boomed in the wake of the COVID-19 pandemic as North Americans look to holiday at home rather than overseas.

The US-based National Marine Manufacturers Association has reported a 75 per cent jump in high-end boat sales compared with the same pre-coronavirus period in 2019.

The big bump in buyers follows the easing of COVID-19 control measures across most of the US, although the nation is still to allow unrestricted movement for a number of traditional summer activities including amateur sports and seasonal camps.

The NMMA data shows jet skis are the strongest growing part of the US boating segment post-COVID-19, with sales jumping 75 per cent in the wake of the pandemic lockdowns.

The US strength will be welcomed by Australian luxury motor yacht makers including Gold Coast-based Riviera and its neighbour, Maritimo, with lucrative North American sales keeping production lines busy.

The Australian-designed and built motor yachts have big appeal in the States, with their proven sea-keeping ability and long cruising ranges attractive to buyers wanting more than just good looks from their recreational boating experience.

Riviera has only just launched its Riviera 64 Sports Motor Yacht flybridge cruiser on the market, with US sales a key target when it makes its debut there at the Annapolis-based United States Power Boat Show in October.

Likewise, Maritimo has just revealed R-badged versions of its X50 and X60 saloon sports yachts that tap into its Maritimo Racing heritage to deliver amped-up performance on the water.