CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. New Survey Reveals Economic Contribution Made By Marinas

New Survey Reveals Economic Contribution Made By Marinas

by Robin Pilgrim, LawAndTax-News.com, London

13 November 2007


A study of coastal marinas in the UK and the Channel Islands published this week has revealed the vital role played by marinas in economic development.

The report, entitled 'Economic Benefits of Coastal Marinas of the UK and Channel Islands', revealed that the sector directly employs over 1,700 people, supports the employment of 22,000 more people, and has added value of over GBP500 million a year to the British economy.

The report was commissioned by the British Marine Federation, in partnership with The Crown Estate, and Jersey Harbours, and was supported by The Yacht Harbour Association.

It presents a national assessment of the economic contribution of coastal marinas, including nine detailed case studies from around the country. The analysis looked at all aspects of this contribution, from on-site businesses to supply chain, marine industry and tourism and leisure impacts.

Key findings of the survey included:

  • The core coastal marinas sector in terms of operations only employs over 1,700 people and turns over GBP113 million a year. This figure excludes the diversity of activities, which range from boat maintenance and repair to boat sales which have been considered as part of the wider assessment;
  • Every job in the core marina sector supports a further 12 jobs in local economies;
  • The coastal marinas industry contributes more than GBP500 million in Gross Value Added to the UK and Channel Islands economy, and may be as high as GBP700 million;
  • Boating visitors to coastal marinas spend over GBP200 million annually, supporting an estimated 5,350 local tourism jobs;
  • On site businesses located at coastal marinas employ over 11,600 people, and generate revenue of GBP280 million of value added; and
  • The coastal marine industry and the spending of their employees supports 4,200 jobs and GBP109 million of value added in supply chain businesses.

Rob Stevens, Chief Executive of the British Marine Federation announced that:

"I strongly welcome the publication of this report, which demonstrates the significant contribution of the coastal marinas sector in both value and employment terms to the UK economy and highlights the importance of securing access to the water."

"Marinas in the UK provide a focus for boating activity and a safe environment from which to plan adventures afloat with friends or family, explore our coastline or take part in the excitement of racing. They offer a huge variety of facilities and many sites are important centres of employment, with some playing a key role in regeneration and being visitor attractions in their own right."

He concluded:

"This report is essential reading for all those involved in shaping policy, setting out land use and economic strategies and making decisions about development plans around our coastline."


To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »