Boating Industry Emerges From Downturn

Similar special offers can be seen in Boat Trader magazine, which has advertisements emblazoned with “Reduced Price” and “Big Discount”. Manufacturers say the boating industry is only now beginning to emerge from the economic downturn. The wealthy continue to spend millions of dollars on high end boats, but sales of smaller boats aimed at the middle and upper middle class are just starting to recover. General Manager for yacht builder Sunseeker Middle East, Francesco Pitea, said “The rich are still rich, the middle class are strong but scared.”