RVIA Economic Impact Study

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 .

Why America's RV Market is Booming

Tue Mar 28, 2017

The RV market is on a tear — thanks to retiring baby boomers.

And it’s a good signal for health of the American consumer, given the most important factor in determining the demand for recreational vehicles is real per capita net worth, according to a note this week from Wells Fargo senior economist Eugenio J. Alemán.

“As Baby Boomers continue to retire en masse, the demand for RVs is expected to continue to increase, especially if real per capita net worth continues to improve and the prices of homes, which seem to be helping households buy RVs since the end of the Great Recession, continue to appreciate,” Alemán writes, according to a story by Yahoo Finance.

In fact, the demand for RVs is insatiable: RV shipments reached 430,961 total units in 2016, a 15.1 percent increase over 2015 — and the best annual total in 40 years, according to the Recreation Vehicle Industry Association. We haven’t seen these levels since the late 1970s. Currently, there are about 9 million RVs on the road in the U.S., and an estimated 8 to 9 percent of all U.S. households now own an RV.

Additional Information: http://finance.yahoo.com/news/demand-for-rvs-is-a-good-sign-for-the-economy-baby-boomers-retiring-191149106.html