Australia’s marina industry takes $48m hit due to COVID-19
Marina Industry Association survey shows marinas are hurting, with more pain to comeThe COVID-19 pandemic has cost Australia’s marinas an estimated $48 million in lost revenue in the three-month period from March to May, an industry report released yesterday says.
A survey commissioned by the Marina Industries Association found the impact of the coronavirus was harshest in Queensland and Victoria, with club-based marinas feeling the worst of the downturn – even more than commercial marinas and boatyards.
The biggest impact of the pandemic on Australia’s marina industry is on food and beverages, with 64 per cent of the nation’s marinas suffering from a steep downturn.
That was closely followed by wet berthing, down 52 per cent, as coronavirus control measures effectively shut down waterways during one of Australia’s busiest boating periods.
The Michigan State University survey's results show that only one in 10 of the more than 100 marinas that completed the survey did not suffer from a loss of revenue during the three-month period.
However, there was one bright light to come from the data, with demand for dry storage experiencing a “significant” increase in response to the lockdowns.
The survey results indicated that workers at 239 marinas would have qualified for the Federal Government’s JobKeeper payments, with turnover falling by at least 30 per cent in the wake of the pandemic.
“At the time of completing the survey in June, 70 per cent of Australian marinas anticipated negative impacts would continue into the 2020-21 financial year with an average estimated loss of profits of 20 per cent,” the Marina Industries Association said.
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