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The economic impact models that comprise this system use distinct spending profiles for different types and sizes of boats that are registered in counties/regions, kept at marinas, and trailered to launch sites. The models estimate annual craft-related spending in eight categories and trip spending in ten categories. Employment and income effects are reported for a dozen economic sectors. Economic impacts are estimated by applying estimates of annual craft and trip spending to 2006 county or regional multipliers representing the structure of the county/region where registered boat owners reside and where marinas or boat access/launch sites are located.
The multipliers convert boater trip and craft spending in different sectors of the economy into the associated jobs, income, and value added in boat-related and tourism-related businesses. Multipliers also estimate the indirect and induced effects as boater spending flows throughout the local economy. Multipliers for twenty economic sectors directly impacted by boater spending were estimated for Florida counties and ten regions using the IMPLAN system with 2006 economic data. Sector-specific multipliers are applied to estimates of boater spending totals to estimate direct and secondary impacts in terms of sales, income, jobs, and value added. Since much of the boating activity and spending occurs within the boater's region of residence, results should be interpreted as economic significance rather than impacts in a with-versus-without sense. That is, much of the spending does not constitute export activity or "new dollars" to the region, so a large proportion of the spending would likely stay in the region in the absence of boating, but would shift to other sectors of the economy. The economic results demonstrate the contribution of boater spending to economic activity in the region and identify those sectors that benefit.
Boating days by different type and size boats and average trip and annual craft spending profiles used in the models are based on data collected from more than 30,000 surveys conducted in 2007 and 2008 as part of the Florida Boating Access Inventory and Economic Study.
One survey collected extensive information about the last monthly boat trip conducted by 8,000 registered Florida boat owners. During the course of a year, a total of 26,770 monthly surveys were completed. Two-thirds of the boat owners reported a trip on the water during the month, yielding detailed trip data for 17,313 boating trips in the combined sample. Boats were used about 4 days per month with larger boats used slightly more often than smaller boats. The overall patterns of use did not vary significantly from month to month. Annual use was estimated at 12 times the average monthly use, taking into account boats that may not have been used in a given month. On an annual basis, the average registered boat was used about 30 days. Days of use per year varied from 45 days for power boats 41 feet or longer to 23 days for power boats under 16 feet.
The trip surveys asked the respondent to report spending on their most recent trip. By sampling registered boat owners each month, a good representation of trips throughout the year was obtained. Boaters reported spending across 10 spending categories. Spending averages for each boat segment are developed from the weighted samples of day and overnight trips. Spending averages were estimated for day and overnight trips for the different boat size/type segments. Spending on the average boating trip was $156. Thirty-five percent of trip spending was for boat fuel, 14% for restaurant meals, 13% for groceries, 12% for lodging on overnight trips, and 10% for auto fuel. Spending per trip varies across the ten segments from a high of $936 for the largest powerboats to $46 for smaller sail boats.
In January 2008 at the end of the trip survey period, a survey was administered to the panel to measure annual boat-related expenses (not including the purchase of boats) during 2007. Annual craft-related expenses were obtained from 3,774 boat owners. Average annual expenses within 10 spending categories were computed for boat size/type segments. All but 4% of registered boat owners spent something on their boat in 2007. On average, boaters spent $5,530 on their boats in 2007. Spending varied from a high of almost $48,000 for power boats over 41 feet to $1,771 for smaller sailboats, and $2,231 for power boats less than 16 feet. The majority of craft-related expenses were for equipment and repairs. Spending figures exclude purchases of boats, but include purchases of new outboard motors, trailers, accessories, and safety and other equipment. Combined, these items account for 45% of craft-related spending. Maintenance, repairs, and installations account for 21% of the spending. Other expenses include boat loan payments (15%), insurance (8%), storage (9%), and taxes (2%).
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