Australia's Marine Industry Set for Unprecedented Growth by 2030

According to the statement, by 2030, the number of Australians holding a boating licence is expected to surpass 2.9 million, with over one million registered boats navigating the nation's waterways. This surge in participation is anticipated to drive annual expenditure on boating and related services to an impressive $20 billion.

The report also sheds light on the types of vessels Australians are favouring. The family runabout remains the nation's preferred choice, typically measuring under 7 metres in length. Notably, personal watercraft (PWC) have experienced a remarkable 28% increase in registrations over the past five years, indicating a growing interest in versatile and accessible boating options. Additionally, paddlecraft, sailing dinghies, and hire-and-drive boats are gaining popularity, reflecting the diverse and inclusive nature of recreational boating in Australia.

Fishing continues to dominate as the primary activity among boaters, with nearly half of the respondents in the National Recreational Boating Survey 2024 citing it as their main reason for taking to the water. Beyond fishing, activities such as cruising, exploring, and spending quality time with family are consistently high on the list of boating pursuits.

Economically, the boating industry is a powerhouse. The BIA estimates that the sector generates over $10 billion in direct annual turnover, supporting more than 2,000 businesses and providing employment for approximately 35,000 individuals. When considering unregistered craft and informal boating activities, the public's total expenditure approaches $15 billion annually. This substantial economic impact underscores the industry's vital role in local economies and its contribution to the national financial landscape.

Beyond its economic significance, the report emphasizes the social and wellbeing benefits associated with boating. Research indicates clear links between recreational boating and improved mental health, physical activity, and community connection. Over 90% of surveyed boaters believe that their time on the water has a significant positive impact on their overall wellbeing. This aligns with international findings, where nations with strong boating cultures often report higher levels of happiness and life satisfaction.

Despite these positive trends, the industry faces several challenges that require attention. A critical issue is the skills shortage, with 93% of marine businesses expressing concern over labour supply, particularly in trades such as marine mechanics, shipwrights, and electricians. The scarcity of apprenticeships, limited access to training, and low female representation in the sector exacerbate this problem.

Infrastructure is another pressing concern. Ageing ramps, marinas, and moorings necessitate urgent investment to meet the growing demand. Additionally, sustainability is becoming increasingly important, with consumers and policymakers advocating for greener boats and cleaner practices. The report also calls for enhanced government recognition of the boating industry, urging for stronger cross-government coordination to reflect its broader economic and social roles.

Looking ahead to 2030, the BIA's projections paint a picture of a thriving and dynamic marine industry. The anticipated growth in licence holders, diverse participation, and innovative models such as boat-sharing are set to propel the sector to new heights. However, addressing the identified challenges through strategic investment, policy support, and industry collaboration will be crucial to realizing this potential and ensuring the sustainable development of Australia's marine industry.