It's all good news
A new study of coastal marinas in the UK and Channel Islands has revealed the sector is worth a useful £500 million to the UK economy.
The report, entitled Economic Benefits of Coastal Marinas of the UK and Channel Islands, shows that the sector directly employs more than 1,700 people, supports the employment of 22,000 more people and brings significant benefits to local economies in terms of supply chain businesses and tourist jobs.
The report, being launched at the Southampton Boat Show, was commissioned by the British Marine Federation, in partnership with The Crown Estate, Jersey Harbours and was supported by The Yacht Harbour Association.
It presents a national assessment of the economic contribution of coastal marinas, including nine detailed case studies from around the country. The analysis looks at all aspects of this contribution, from on-site businesses to supply chain, marine industry and tourism and leisure impacts.
The survey found that:
The core coastal marinas sector in terms of operations only employs over 1,700 people and turns over £113 million a year. This figure excludes the diversity of activities, which range from boat maintenance and repair to boat sales which have been considered as part of the wider assessment;
Every job in the core marina sector supports a further 12 jobs in local economies;
The coastal marinas industry contributes more than £500 million in Gross Value Added to the UK and Channel Islands economy and may be as high as £700 million;
Boating visitors to coastal marinas spend over £200 million annually, supporting an estimated 5,350 local tourism jobs;
On site businesses located at coastal marinas employ over 11,600 people and generate revenue of £280 million of value added;
The coastal marine industry and the spending of their employees supports 4,200 jobs and £109 million of value added in supply chain businesses.
Rob Stevens, Chief Executive of the British Marine Federation said: “This report demonstrates the significant contribution of the coastal marinas sector in both value and employment terms to the UK economy and highlights the importance of securing access to the water.
“This report is essential reading for all those involved in shaping policy, setting out land use and economic strategies and making decisions about development plans around our coastline.”
Roger Bright, Chief Executive of The Crown Estate added: “As the major tidal landowner in the UK, The Crown Estate is delighted to have supported the production of this report into the economic benefits of marinas. We are taking an increasingly active interest in the economic opportunities that marinas and other coastal developments can provide in supporting coastal communities.”