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 .
Tue Jan 2, 2018
Author: RV News staff
The continuing rise of RV sales—up 17.8 percent as of November to 468,383 units (from 397,721 units shipped in the same period in 2016)—is being driven by “experience-craving” millennials and retiring baby boomers, according to a recent Forbes magazine article.
And both millennials and retirees are “helping fuel an unprecedented boom in sales of recreational vehicles, giving a cool sheen to the itinerant life, and getting the industry to believe that it can move past the wild volume cycles that almost put it out of business during the Great Recession,” the article states.
The story cites U.S. RV sales growing by more 15 percent in the each of the last two years—and the expectation that 2017 will the year they broke the 500,000-mark for the first time— as well as shares of Thor Industries and Winnebago Industries hitting new record highs, and 15 new or expanded facilities in Indiana, Iowa, Idaho, California and Oregon, as indicators of the RV industry’s growing strength.
"Our growth is absolutely coming from young families and millennials getting into the lifestyle," Frank Hugelmeyer, president of the Recreational Vehicle Industry Association, told the magazine for the Dec. 29 story.
Click here to to read the full story and read more of what factors Hugelmeyer and others believe are fueling millennial interest in RVing.