The Recreation Vehicle Industry Association commissioned an Economic Impact Study on the RV industry, released on June 7, 2016. The study found that the RV industry contributes about $49.7 billion in economic output or 0.28 percent of the Gross Domestic Product. Through its production and distribution linkages, the industry impacts firms in 426 of the 440 sectors of the United States economy.
Nationwide, the industry is responsible for 216,170 jobs, both directly and inderectly, creating an economic impact of $37.5 billion. The full study results, along with each individual state and congressional district's economic impact is available on the website by clicking here .
Mon Jul 18, 2016
The luxury of bringing all the amenities of home onto a camping trip with a recreational vehicle is a concept almost as traditionally American as the mass-produced automobile. From small campers to large motorhomes, RVs have taken on many incarnations since the earlier parts of the 20th century when modern RVs began to take shape in North America. The industry itself is a large boon to the American economy, supporting nearly 300,000 full-time jobs and adding $49.7 billion to the U.S. economy.
The market for recreational vehicles in America has been doing pretty well in recent years. A 2011 study sponsored by the Recreational Vehicle Industry Association pegs the number of households which own an RV at 8.9 million, a new high figure for RV ownership which is a full 1 million more households than was found in a 2005 study. The average age of ownership dropped by a year to 48 years with owners having a median income of $62,000. The strongest ownership growth was seen in the age range of 35 to 54 years. RVIA shipping statistics for the first four months of 2015 show that RV shipments during the first quarter of that year reached more than 135,000 units among travel trailers, campers, motorhomes and towable RVs.
The North American RV market appears set for future growth according to market research analysts. An RV market forecast out from research firm Technavio predicts that this sector will increase by a compound annual growth rate of 8.35 percent in the five years between 2014 and 2019. 2014 already was a banner year for the RV industry as analysts expected shipments to exceed 300,000 total units for the first time since the global economic recession.
In this atmosphere of growing prosperity in the RV sector, a sizable acquisition has just taken place. On July 1, Elkhart, Indiana-based Thor Industries has agreed to buy private RV developer Jayco, Inc. of Middlebury, Indiana. The cash deal is worth a reported $576 million and will allow Jayco to operate as an independent subsidiary while bringing products like the Jay Flight, which Thor called the top selling travel trailer over the past 11 years, into the Thor lineup.
Additional Information: http://www.ipwatchdog.com/2016/07/16/thor-purchase-jayco-recreational-vehicle/id=70789/