Marinas Generate Over $1Billion Per Annum
Report reveals the importance of marinasThe Marina Industry Association of Australia (MIAA) has released a report of research conducted by the Recreational Marine Research Centre (RMRC) at Michigan State University highlighting the significance of marinas as economic and employment hubs within their communities.
Based on 2008/09 data, the estimated total direct economic value of Australian marinas as measured by total revenue generated was $1.16 billion or $3.6 million per marina. The estimated direct permanent and casual employment generated by marinas was estimated to be approximately 6,400 or 17 persons per marina.
MIAA President Andrew Chapman said, “The findings demonstrate that marinas are a vital asset providing major economic and employment benefits within their respective communities. Well planned and managed marinas provide an excellent platform for sustainable economic and employment growth within communities. The Report provides the evidence to back up the case for marinas being recognised by government as significant infrastructure that deliver measurable economic and employment benefits within local communities.”
The Report includes 40 data tables providing, for example, data on the significance of marinas as social and recreational hubs. The report provides sales and revenue figures from 22 specific sources. From the sample of marinas, the median gross revenue from Restaurant/F&B was $1.26 million. Thirty-seven per cent provided facilities for meetings and functions such as weddings.
Lack of security of tenure for many marinas was highlighted by data indicating that for more than 50 per cent of marinas, their current lease will have expired on or before 2030.
The 40-page Report can be purchased for $165 from the MIAA at info@marinas.net.au
Dr Edward Mahoney from RMRC is a world authority on recreational marine research. As a result of the Australian industry's enthusiasm for developing meaningful data his team in Michigan has, in association with MIAA and its partners, developed the Health of the Marina Index. As well as collecting economic data it will also track marina environmental and social performance data on an annual basis. Australian marinas can register now to participate in this ground-breaking research project at www.austmarinagroups.com
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