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 Mar 31, 2017
Wells Fargo has released a special commentary report in which Senior Economist Eugenio Aleman says he expects that RV demand will remain strong for the foreseeable future.
Aleman takes a look at the shipment reports and demand growth since 1999 in order to predict the future growth and demand for RVs in the future.
"Off the bat, it is important, and not surprising, to mention that the most important factor determining the demand for RVs in the United States, according to our analysis, is real per capital net worth," Aleman says in the report. "Furthermore, the effect of real per capita net worth is the only determinant of demand for RVs where the important does not change, even when looking at different time periods.
"Meanwhile, the price of RVs is an important determinant for the overall time period, but it loses some of its significance, in statistical terms, in other periods considered in our analysis."
Aleman also concluded that one of the primary reasons for the expected increase is the retirement of Baby Boomers.
"As Baby Boomers continue to retire en masse, the demand for RVs is expected to continue to increase, especially if real per capital net worth continues to improve and the price of homes, which seems to be helping households buy RVs since the end of the Great Recession, continue to appreciate."
To read the full report, click on the link below.