Impact of COVID on the European nautical industry

Impact of COVID-19 on the nautical industry

In the first study by EBI and in which numerous companies have participated, a very different impact is shown in the companies participating in the study during the health crisis. Even so, according to the summary offered, it seems to be good prospects for the sector in the coming years.

At the International Breakfast Meeting organized on April 20 by the EBI (European Boating Industry) and the Boot Düsseldorf, the first study of the impact of COVID’19 on the European nautical industry was presented.

The study, carried out by the Jade Wilhelmshaven University in Germany with the collaboration of Bundesverband Wassersportwirtschaft eV and Boot Düsseldorf, in which numerous companies from the nautical sector have participated by providing information on their situation, shows a varied impact in each of the countries EBI members.

More than 96% of the companies that responded to the interviews carried out for the preparation of the study were SMEs and almost half were micro companies.

The study can be consulted HERE

Revenues: A third of companies reported an increase while more than half reported a drop in revenue. Companies with their main activity in tourism and production have been more affected than companies in the distribution and services sector.

Employment: 23% of companies had to lay off employees, while 22% increased employment.

Future trends: Interest in navigation is considered to be on the rise in the short and long term. Companies are increasingly focusing on digitization and, in part, also on environmental sustainability. However, investments had to be postponed in 2020 given the pandemic.

Government support: in all countries, governments supported companies in difficulty. However, government support is still needed at national and European level with a focus on financial support, effective legislation and advocacy.

Industry Outlook: The outlook for companies in the shipping industry is perceived as positive for 2021 and only 23% consider it poor.