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Boat buyers, sellers navigate choppy waters from war, inflation, supply woes
When COVID-19 struck down the economy in 2020, it was the marine industry that converted crisis into opportunity as customers seeking a safe mode of recreation bought or rented boats in droves.
Now, as the Fort Lauderdale International Boat Show approaches its 63rd edition, industry sales are slowing, some brokerage firms say, as war continues to flare in Ukraine, inflation grips the economy, and supply chain problems slow vessel production.
The confluence of events appears to have dampened the surge of COVID-driven business that was caused by limited travel options over the previous two years. A large number of people, industry officials note, turned to yachting and other forms of boating as an alternative mode of leisure travel.