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 .
Fri Aug 12, 2016
Both lenders and dealers say consumer interest in recreational vehicle loans has grown this year, as unemployment and gas prices remain low and buyers remain confident about the economy.
While many people might think of motor homes when they hear the term RV, lenders say an RV loan can cover most recreational vehicles, including boats, jet skis, all-terrain vehicles (ATVs), motorcycles, and camper trailers.
“The economy is still very strong, and people feel they can afford some of these more luxury items,” Numerica Credit Union Vice President Jana Erny says.
Additional Information: http://www.spokanejournal.com/local-news/rv-loan-demand-speeds-ahead/