Canadian Marine Industry Reports Better Than Projected 2009 Figures

by Sail-World Canada on 6 Jan 2010 The boating industry is cautiously optimistic as it prepares for the 2010 Toronto Boat Show. The 2010 Toronto International Boat Show sets sail January 9 – 17 at the Direct Energy Centre amid a mood of renewed marine industry confidence and relief that Canada has probably seen the worst of the economic downturn.

Over the last year, the country’s boating businesses experienced several challenges because of the world’s economic condition, as did the majority of other industries. However, as reported by Boating Industry Canada’s Annual 2009 Marine Research Benchmark Update, the Canadian boating industry escaped comparatively unscathed in terms of overall sales and revenues – largely similar to the Canadian economy as a whole in contrast to the U.S.

'This has been a really rapid year of change in the Canadian boating industry but we’ve survived the recession quite well,' said Rick Layzell, Chair, National Marine Manufacturers Association of Canada. 'As the overall business climate re-adjusts and unique economic conditions persist, it’s a great time for consumers to capitalize on new opportunities to buy a boat. And we anticipate that these factors will make all the difference for our sales in 2010.'

The Conference Board of Canada forecasts that the country’s growth will rebound to 2.9 percent next year and 3.6 percent in 2011, in line with the Bank of Canada’s last published projections – another good economic indicator for the industry.

'The mood of the industry is extremely positive, as exemplified by the fact that we saw the largest dealer attendance in years at the Ontario Marine Operators Association annual conference just a few weeks ago,' said Linda Waddell, NMMA vice president of northern shows. 'Demographically, with Canada’s enormous wave of baby boomers set to retire over the next 20 years and substantial real estate action and development throughout cottage country coast-to-coast, we expect the boating industry to remain strong.'

Sales trends over the past year at some marine dealerships were a pleasant surprise in many cases. In the sailing realm, Anchor Yachts in Mississauga, ON normally is among the top ten Beneteau dealers in North America, but made it into the top five this year. Wim Zegers, owner of Anchor Yachts, attributes his success in 2009 to the high Canadian dollar and the changing Canadian consumer.

'Our product is all about high quality and high value, and it seems to me that consumers appreciate the bigger picture in terms of both their enjoyment and their investment in boating,' Zegers said. 'I also believe we’re being impacted by the recent influx of baby boomers, an older buying crowd that wants to invest in activities that will be around for years for them and their families.'

In the powerboat sector, Ontario dealer Crates Lake Country Boats also saw success in the last year. 'We aren’t out of the woods just yet, but we do feel we’re well on the way to recovery,' said Jason Crate, vice president of Crates Lake Country Boats. 'Our customers are quite sophisticated and they know a deal when they see one – and the combination of both manufacturer and dealer incentives plus the healthy dollar and low interest rates brought in better than expected sales this year.'

The Toronto International Boat Show hopes to benefit from both the strength of Ontario’s dealer network and consumers’ ongoing search for value and the boating lifestyle. In an effort to help new and existing boaters uncover budget-conscious ways to take to the water, visitors to the 2010 show will find exhibitors offering the best deals on new boats and boating products, with financing packages, special show pricing, rebates and extras throughout the show all combining to create a boat buyer’s paradise.

'Canadians simply love to get out on the water, and regardless of the economic situation, there’s always a boat for every budget or lifestyle,' noted Show Manager Cynthia Hare. 'The timing couldn’t be better for interested buyers right now, with most manufacturers and dealers at our show offering some of the best terms we’ve seen in years.'

www.torontoboatshow.com