Thursday, February 15, 2018
Breaking News
Home » RV Industry News » Study finds RVs account for $30 Billion in annual economic activity

Study finds RVs account for $30 Billion in annual economic activity

(Feb. 15, 2018) -- The U.S. Department of Commerce's Bureau of Economic Analysis (BEA) announced today that RVs accounted for $30 billion in direct annual economic activity in 2016, the most recent year for which statistics are available.

RESTON, Va. – Coming on the heels of a record-breaking year of shipments for the RV industry, the U.S. Department of Commerce’s Bureau of Economic Analysis (BEA) announced today that RVs accounted for $30 billion in direct annual economic activity in 2016, the most recent year for which statistics are available. The prototype statistics are from the Outdoor Recreation Satellite Account (ORSA), the first-ever government report recognizing outdoor recreation as a significant contributor to the U.S. economy.

Overall, outdoor recreation accounted for 2 percent ($373.7 billion) of current-dollar GDP in 2016. In addition, the outdoor recreation economy grew 3.8 percent in 2016, compared to 2.8 percent growth in the overall economy.

“Motorized Vehicles” was the largest activity within “Conventional Outdoor Recreation” in 2016, accounting for $59.4 billion of gross output. This means that RVs, with their $30 billion in gross output, account for more than half of that value.

“The ORSA report is a welcome signal of the critical economic role outdoor recreation plays in the United States, and the RV industry figures reaffirm the strength of our business,” said Frank Hugelmeyer, president, RV Industry Association. “We are very fortunate to represent a rapidly growing industry that helps keep America’s economy strong and brings enjoyment to millions of Americans.”

The full report issued by ORSA and BEA can be found here.

SOURCE: RVIA press release

Print Friendly, PDF & Email

About Ronnie Garrett

Ronnie Garrett is the editor in chief of RV Daily Report. She's been a writer/editor for more than 25 years, working in law enforcement, aviation, supply chain and now the RV industry. She's not a stranger to RVs, however. She grew up camping, and still camps as many weekends as she can every year.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

RV Daily Report welcomes comments from readers. However, we expect that comments will be cordial and professional without reverting to name-calling, profanity and libelous language. Comments of that nature will be removed.