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 Aug 14, 2017
The movement from traditional home dwelling to living in an RV is sweeping the nation. The perks of having a mobile residence are more appealing now than ever, especially with millennials starting their lives and looking to have a place of their own. It isn't just the millennials, reports from the Recreational Vehicle Industry Association demonstrate:
With ownership up 16 percent since 2001, buyers between the ages of 35 to 54 make up the largest share of owners.
Still though, why would millennials prefer to live in an RV over a traditional house? Aside from the financial break because of the lower cost of living, RVs provide an opportunity to experience adventure. Unlike previous generations, millennials prefer experiences over items:
In fact 78 percent of millennials in a 2014 Eventbrite poll said they would rather spend money on an experience rather than purchasing an item.
Nevertheless, making this decision still takes some thought. If you are considering dumping the white picket fence for four wheels, before you have an estate sale and quit your job, consider four factors.
To read these factors and more about this story by Builder Online.com.