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 .
Thu Dec 22, 2016
The RV dealers in the state of Maryland have experienced a surge in their business for the entirety of the 2016 year, a microcosm of the RV industry as a whole throughout the nation.
At the Maryland Recreational Vehicle Dealers Fall Show, held between Sept. 14-17, the attendance jumped 27 percent from 2015.
Show Director Rich Kohles says the quick surge in the attendance was a pleasant surprise and he thinks the momentum is only starting to grow.
“All of the dealers that represented there said they did exceptionally well,” Kohles says. “We think the whole industry, especially in our market area, is doing really well.”
Kohles says the catalyst for the big upswing in attendance and interest in the RV industry hasn’t been anything over-the-top that the Maryland Recreation Vehicle Dealers Association has done. Instead, the right situations and the ability to use discretionary dollars has set up the state to succeed, much like other states and the nation as a whole.
“We would love to think it was advertising, but we didn’t stray too far from the formula we used in the year prior,” Kohles says. “People are not wanting to travel on airlines and go overseas or leave the continental U.S. We’re seeing a large upsurge in younger markets. Not millennials, necessarily, but the next step up for people who go to soccer games, football games, lacrosse, where a lot of RVs have to be there all day. Those are very popular in this area.”
The biggest challenge RV dealers throughout Maryland have to deal with at this time of the year is the slowdown that always occurs during the winter months. The end of the year is typically the slowest selling season because of the winter pattern, Kohles says. However, the association is hosting its Spring Show during the last two weekends in February, where Kohles expects the interest and the business to ramp up again.
Normally, the Spring show brings about 32,000 people to the event, but much like the large increase to the Winter Show, Kohles is expecting another increase to the Spring Show.
“The show seems to be the catalyst that starts everything,” Kohles says. “At the end of February and into March, the weather breaks and people are looking for upgrading their RVs and getting new ones. That’s the dual purpose of coming to the show.”
Particularly, the toy haulers and travel trailer segment is what is generating the most interest. Kohles says that has been the case the last five years, but this year has been exponentially more so.
Maryland provides an economic output of about $153.5 million to the country, while providing about 1,367 direct jobs, according to the Economic Impact Study commissioned by the RVIA earlier this year.