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Berths still in high demand

UK: Demand for berths exceeds pre-pandemic levels according to insight revealed in British Marine’s newly released UK Marina and Mooring Market Report (2021-2022).

A total of 173 marinas took part in the survey, i.e. 23% of the UK’s 723 marinas, representing 42% of the country’s marina berths and moorings. Some key findings are as follows:
• Revenues from marina berthing income grew 13% to £283 million in 2021/22, reflecting the impact of the sector’s recovery from the pandemic.
• Gross profits accounted for an average of 20% of revenues per marina. Total gross profits related to marina berthing for the entire sector increased 32% to £55 million.
• The sector’s direct Gross Value Added (GVA) contribution to UK GDP through marina berthing income increased 16% to £127 million from the previous year. The ‘added value’ created by the marina sector represents 45.1% of total sector output.
• Taking into account indirect and induced economic effects, from marinas’ supply chain spending and the spending of employees supported by marinas and their suppliers, the UK marina sector generated a combined total of £253 million in GVA.
• Despite increasing challenges from inflation and declining UK economic growth, marina businesses are optimistic about their market, with 54% of members still positive about prospects, citing the continued effect of the pandemic boom in second-hand boat sales and demand for berths over the last year. 56% of respondents reported that demand for berths was still above pre-pandemic levels.
• Occupancy rates for April 2022, at the start of the boating season, averaged 90% across all mooring providers, with rates highest at inland marinas (91%) compared to coastal (89%).
• Due to a surge in demand and rising inflation after lockdown, the yield per berth (which, alongside occupancy, is a key metric for marina berthing productivity), grew 13% to £3,551.
• With supply increasingly strained, 19% of marinas that responded to the survey are looking to expand over the next 12 months. The focus is upon adding pontoon berths rather than dry storage.

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